0001468929 2026-01-01 2026-06-30 0001468929 NXGL:CommonStockParValue0.001Member 2026-01-01 2026-06-30 0001468929 NXGL:WarrantsToPurchaseCommonStockMember 2026-01-01 2026-06-30 0001468929 2026-08-14 0001468929 2026-06-30 0001468929 2025-12-31 0001468929 us-gaap:NonrelatedPartyMember 2026-06-30 0001468929 us-gaap:NonrelatedPartyMember 2025-12-31 0001468929 us-gaap:RelatedPartyMember 2026-06-30 0001468929 us-gaap:RelatedPartyMember 2025-12-31 0001468929 2026-04-01 2026-06-30 0001468929 2025-04-01 2025-06-30 0001468929 2025-01-01 2025-06-30 0001468929 us-gaap:CommonStockMember 2025-12-31 0001468929 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0001468929 us-gaap:NoncontrollingInterestMember 2025-12-31 0001468929 us-gaap:RetainedEarningsMember 2025-12-31 0001468929 us-gaap:CommonStockMember 2026-03-31 0001468929 us-gaap:AdditionalPaidInCapitalMember 2026-03-31 0001468929 us-gaap:NoncontrollingInterestMember 2026-03-31 0001468929 us-gaap:RetainedEarningsMember 2026-03-31 0001468929 2026-03-31 0001468929 us-gaap:CommonStockMember 2024-12-31 0001468929 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001468929 us-gaap:NoncontrollingInterestMember 2024-12-31 0001468929 us-gaap:RetainedEarningsMember 2024-12-31 0001468929 2024-12-31 0001468929 us-gaap:CommonStockMember 2025-03-31 0001468929 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0001468929 us-gaap:NoncontrollingInterestMember 2025-03-31 0001468929 us-gaap:RetainedEarningsMember 2025-03-31 0001468929 2025-03-31 0001468929 us-gaap:CommonStockMember 2026-01-01 2026-03-31 0001468929 us-gaap:AdditionalPaidInCapitalMember 2026-01-01 2026-03-31 0001468929 us-gaap:NoncontrollingInterestMember 2026-01-01 2026-03-31 0001468929 us-gaap:RetainedEarningsMember 2026-01-01 2026-03-31 0001468929 2026-01-01 2026-03-31 0001468929 us-gaap:CommonStockMember 2026-04-01 2026-06-30 0001468929 us-gaap:AdditionalPaidInCapitalMember 2026-04-01 2026-06-30 0001468929 us-gaap:NoncontrollingInterestMember 2026-04-01 2026-06-30 0001468929 us-gaap:RetainedEarningsMember 2026-04-01 2026-06-30 0001468929 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0001468929 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0001468929 us-gaap:NoncontrollingInterestMember 2025-01-01 2025-03-31 0001468929 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0001468929 2025-01-01 2025-03-31 0001468929 us-gaap:CommonStockMember 2025-04-01 2025-06-30 0001468929 us-gaap:AdditionalPaidInCapitalMember 2025-04-01 2025-06-30 0001468929 us-gaap:NoncontrollingInterestMember 2025-04-01 2025-06-30 0001468929 us-gaap:RetainedEarningsMember 2025-04-01 2025-06-30 0001468929 us-gaap:CommonStockMember 2026-06-30 0001468929 us-gaap:AdditionalPaidInCapitalMember 2026-06-30 0001468929 us-gaap:NoncontrollingInterestMember 2026-06-30 0001468929 us-gaap:RetainedEarningsMember 2026-06-30 0001468929 us-gaap:CommonStockMember 2025-06-30 0001468929 us-gaap:AdditionalPaidInCapitalMember 2025-06-30 0001468929 us-gaap:NoncontrollingInterestMember 2025-06-30 0001468929 us-gaap:RetainedEarningsMember 2025-06-30 0001468929 2025-06-30 0001468929 NXGL:LicenseAgreementMember 2026-04-17 0001468929 NXGL:LicenseAgreementMember 2026-04-17 2026-04-17 0001468929 NXGL:AprilPurchaseAgreementMember 2026-04-17 0001468929 NXGL:AprilPurchaseAgreementMember 2026-04-17 2026-04-17 0001468929 NXGL:AprilPurchaseAgreementMember 2026-05-11 0001468929 NXGL:AprilPurchaseAgreementMember 2026-05-11 2026-05-11 0001468929 2026-05-31 0001468929 us-gaap:FairValueInputsLevel2Member 2025-12-31 0001468929 us-gaap:FairValueInputsLevel1Member 2026-06-30 0001468929 us-gaap:FairValueInputsLevel2Member 2026-06-30 0001468929 us-gaap:FairValueInputsLevel3Member 2026-06-30 0001468929 us-gaap:FairValueInputsLevel3Member 2025-12-31 0001468929 us-gaap:FairValueInputsLevel3Member 2026-01-01 2026-06-30 0001468929 NXGL:NexGelMember 2026-04-01 2026-06-30 0001468929 NXGL:CGNJVMember 2026-04-01 2026-06-30 0001468929 us-gaap:ReportableSubsegmentsMember 2026-04-01 2026-06-30 0001468929 NXGL:NexGelMember 2025-04-01 2025-06-30 0001468929 NXGL:CGNJVMember 2025-04-01 2025-06-30 0001468929 us-gaap:ReportableSubsegmentsMember 2025-04-01 2025-06-30 0001468929 NXGL:NexGelMember 2026-01-01 2026-06-30 0001468929 NXGL:CGNJVMember 2026-01-01 2026-06-30 0001468929 us-gaap:ReportableSubsegmentsMember 2026-01-01 2026-06-30 0001468929 NXGL:NexGelMember 2025-01-01 2025-06-30 0001468929 NXGL:CGNJVMember 2025-01-01 2025-06-30 0001468929 us-gaap:ReportableSubsegmentsMember 2025-01-01 2025-06-30 0001468929 NXGL:NexGelMember 2026-06-30 0001468929 NXGL:CGNJVMember 2026-06-30 0001468929 us-gaap:ReportableSubsegmentsMember 2026-06-30 0001468929 NXGL:NexGelMember 2025-12-31 0001468929 NXGL:CGNJVMember 2025-12-31 0001468929 us-gaap:ReportableSubsegmentsMember 2025-12-31 0001468929 NXGL:CGConvertingAndPackagingLLCMember 2023-03-01 0001468929 NXGL:CGLaboratoriesIncMember 2023-03-01 0001468929 NXGL:CGConvertingAndPackagingLLCMember 2023-03-01 2023-03-01 0001468929 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2026-06-30 0001468929 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2025-12-31 0001468929 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:NonrelatedPartyMember 2026-06-30 0001468929 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:NonrelatedPartyMember 2025-12-31 0001468929 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:RelatedPartyMember 2026-06-30 0001468929 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember us-gaap:RelatedPartyMember 2025-12-31 0001468929 country:PA 2026-01-01 2026-06-30 0001468929 NXGL:CelularityLicenseAgreementMember 2026-04-17 0001468929 us-gaap:PropertyPlantAndEquipmentMember 2026-06-30 0001468929 us-gaap:MachineryAndEquipmentMember 2026-06-30 0001468929 us-gaap:MachineryAndEquipmentMember 2025-12-31 0001468929 srt:MinimumMember us-gaap:MachineryAndEquipmentMember 2026-06-30 0001468929 srt:MaximumMember us-gaap:MachineryAndEquipmentMember 2026-06-30 0001468929 us-gaap:FurnitureAndFixturesMember 2026-06-30 0001468929 us-gaap:FurnitureAndFixturesMember 2025-12-31 0001468929 srt:MinimumMember us-gaap:FurnitureAndFixturesMember 2026-06-30 0001468929 srt:MaximumMember us-gaap:FurnitureAndFixturesMember 2026-06-30 0001468929 us-gaap:LeaseholdImprovementsMember 2026-06-30 0001468929 us-gaap:LeaseholdImprovementsMember 2025-12-31 0001468929 us-gaap:ConstructionInProgressMember 2026-06-30 0001468929 us-gaap:ConstructionInProgressMember 2025-12-31 0001468929 NXGL:LicenseAgreementIntangibleAssetsMember 2026-06-30 0001468929 NXGL:LicenseAgreementIntangibleAssetsMember 2025-12-31 0001468929 us-gaap:TechnologyBasedIntangibleAssetsMember 2026-06-30 0001468929 us-gaap:TechnologyBasedIntangibleAssetsMember 2025-12-31 0001468929 us-gaap:CustomerRelatedIntangibleAssetsMember 2026-06-30 0001468929 us-gaap:CustomerRelatedIntangibleAssetsMember 2025-12-31 0001468929 us-gaap:TradeNamesMember 2026-06-30 0001468929 us-gaap:TradeNamesMember 2025-12-31 0001468929 us-gaap:MarketingRelatedIntangibleAssetsMember 2026-06-30 0001468929 us-gaap:MarketingRelatedIntangibleAssetsMember 2025-12-31 0001468929 2026-04-17 2026-04-17 0001468929 2026-04-17 0001468929 NXGL:SillyGeorgeAcquisitionMember NXGL:TechnologyRelatedAndCustomerRelatedIntangiblesMember 2024-05-15 0001468929 NXGL:JVNotesPayableMember 2024-03-13 2024-03-13 0001468929 NXGL:JVNotesPayableMember 2024-03-13 0001468929 NXGL:JVNotesPayableMember 2026-06-30 0001468929 NXGL:JVNotesPayableMember 2025-12-31 0001468929 NXGL:NexGelMember 2026-06-30 0001468929 NXGL:NexGelMember 2025-12-31 0001468929 NXGL:EconomicInjuryDisasterLoanMember 2020-05-28 0001468929 NXGL:EconomicInjuryDisasterLoanMember 2020-05-27 2020-05-28 0001468929 NXGL:EconomicInjuryDisasterLoanMember 2026-01-01 2026-06-30 0001468929 NXGL:EconomicInjuryDisasterLoanMember 2025-01-01 2025-12-31 0001468929 NXGL:EconomicInjuryDisasterLoanMember 2026-06-30 0001468929 NXGL:SeriesAConvertibleNotesMember 2026-02-10 2026-02-10 0001468929 2026-02-10 0001468929 NXGL:SeriesAConvertibleNotesMember 2026-02-10 0001468929 NXGL:SeriesAConvertibleNotesMember 2026-06-30 0001468929 NXGL:SeriesAConvertibleNotesMember 2026-01-01 2026-06-30 0001468929 NXGL:SeriesAConvertibleNotesMember us-gaap:SubsequentEventMember 2026-07-01 2026-07-01 0001468929 NXGL:ConvertiblePromissoryNotesMember 2026-06-30 0001468929 NXGL:ConvertiblePromissoryNotesMember 2026-01-01 2026-06-30 0001468929 NXGL:PlacementAgentWarrantMember 2026-06-30 0001468929 NXGL:PlacementAgentWarrantMember 2026-01-01 2026-06-30 0001468929 us-gaap:SubsequentEventMember 2026-07-01 0001468929 us-gaap:SubsequentEventMember 2026-07-01 2026-07-01 0001468929 us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2026-07-01 0001468929 NXGL:SeriesAConvertibleNoteMember us-gaap:ConvertibleDebtMember 2026-06-30 0001468929 NXGL:ConvertiblePromissoryNotesMember us-gaap:ConvertibleDebtMember 2026-06-30 0001468929 us-gaap:ConvertibleDebtMember 2026-06-30 0001468929 NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2020-05-26 0001468929 NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2021-05-03 0001468929 NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2023-03-23 0001468929 NXGL:IncentiveStockOptionsMember NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2023-03-23 0001468929 NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2024-12-31 0001468929 NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2024-12-31 2024-12-31 0001468929 NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2025-06-17 2025-06-17 0001468929 srt:ExecutiveOfficerMember NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2024-01-01 2024-12-31 0001468929 srt:ChiefFinancialOfficerMember us-gaap:EmployeeStockOptionMember 2026-04-27 0001468929 srt:ChiefFinancialOfficerMember us-gaap:EmployeeStockOptionMember 2026-04-27 2026-04-27 0001468929 2026-04-27 2026-04-27 0001468929 2026-04-27 0001468929 srt:ChiefFinancialOfficerMember us-gaap:EmployeeStockOptionMember 2026-02-12 0001468929 srt:ChiefFinancialOfficerMember us-gaap:EmployeeStockOptionMember 2026-02-12 2026-02-12 0001468929 us-gaap:StockOptionMember 2026-06-30 0001468929 srt:MinimumMember us-gaap:StockOptionMember 2026-01-01 2026-06-30 0001468929 srt:MaximumMember us-gaap:StockOptionMember 2026-01-01 2026-06-30 0001468929 srt:ChiefFinancialOfficerMember us-gaap:RestrictedStockUnitsRSUMember 2026-02-12 2026-02-12 0001468929 srt:ChiefFinancialOfficerMember us-gaap:RestrictedStockUnitsRSUMember NXGL:SeparationAgreementMember 2026-02-12 2026-02-12 0001468929 us-gaap:RestrictedStockUnitsRSUMember 2026-06-30 0001468929 NXGL:CommonStockWarrantsMember 2026-06-30 0001468929 NXGL:CommonStockWarrantsMember 2025-06-30 0001468929 NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2026-06-30 0001468929 NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2026-01-01 2026-06-30 0001468929 NXGL:AwardsGrantedOutsideOfThe2019PlanMember 2026-06-30 0001468929 NXGL:AwardsGrantedOutsideOfThe2019PlanMember 2026-01-01 2026-06-30 0001468929 us-gaap:StockOptionMember NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2025-12-31 0001468929 us-gaap:StockOptionMember NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2025-01-01 2025-12-31 0001468929 us-gaap:StockOptionMember NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2026-01-01 2026-06-30 0001468929 us-gaap:StockOptionMember NXGL:TwoThousandAndNineteenLongTermIncentivePlanMember 2026-06-30 0001468929 srt:MinimumMember 2026-01-01 2026-06-30 0001468929 srt:MaximumMember 2026-01-01 2026-06-30 0001468929 us-gaap:RestrictedStockUnitsRSUMember 2025-12-31 0001468929 us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-06-30 0001468929 2025-01-01 2025-12-31 0001468929 NXGL:STADAArzneimittelAGMember 2025-07-14 2025-07-14 0001468929 NXGL:STADAArzneimittelAGMember 2026-06-30 0001468929 NXGL:STADAArzneimittelAGMember 2025-12-31 0001468929 NXGL:LicenseAgreementMember 2026-01-01 2026-06-30 0001468929 NXGL:CustomerOneMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-06-30 0001468929 NXGL:CustomerOneMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-06-30 0001468929 NXGL:CustomerOneMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-06-30 0001468929 NXGL:CustomerTwoMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-06-30 0001468929 NXGL:CustomerThreeMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-06-30 0001468929 NXGL:CustomerOneMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-06-30 0001468929 NXGL:CGLaboratoriesIncMember 2026-06-30 0001468929 NXGL:CGLaboratoriesIncMember 2025-12-31 0001468929 NXGL:CEOOfCGLaboratoriesIncMember 2026-06-30 0001468929 NXGL:CEOOfCGLaboratoriesIncMember 2025-12-31 0001468929 NXGL:UnsecuredConvertiblePromissoryNoteMember 2026-04-17 0001468929 NXGL:UnsecuredConvertiblePromissoryNoteMember us-gaap:CommonStockMember 2026-04-17 2026-04-17 0001468929 NXGL:UnsecuredConvertiblePromissoryNoteMember us-gaap:WarrantMember 2026-04-17 2026-04-17 0001468929 NXGL:UnsecuredConvertiblePromissoryNoteMember 2026-05-11 0001468929 NXGL:UnsecuredConvertiblePromissoryNoteMember us-gaap:CommonStockMember 2026-05-11 2026-05-11 0001468929 NXGL:UnsecuredConvertiblePromissoryNoteMember us-gaap:WarrantMember 2026-05-11 2026-05-11 0001468929 NXGL:UnsecuredConvertiblePromissoryNoteMember NXGL:BrianJKieserMember 2026-01-01 2026-06-30 iso4217:USD shares iso4217:USD shares pure NXGL:Segment utr:sqft false Q2 --12-31 0001468929

10-Q true 2026-06-30 2026 false 001-41173 NexGel, Inc. DE 26-4042544 2150 Cabot Blvd West Suite B Langhorne PA 19047 (215) 702-8550 Common Stock, par value $0.001 NXGL NASDAQ Warrants to Purchase Common Stock NXGLW NASDAQ Yes Yes Non-accelerated Filer true true false false 9747663

492000

317000

1214000

741000

1079000

673000

2303000

2111000

1082000

496000

6170000

4338000

1128000

13491000

681000

1909000

1955000

3405000

2015000

249000

95000

26447000

10461000

3344000

723000

575000

566000

456000

462000

102000

99000

483000 731000

68000

65000

747000

310000

8665000

14440000

2956000

2847000

1883000

203000

242000

3054000

437000

489000

20981000

5570000

0.001

5000000

0.001

25000000

9700022

8475693

10000

8000

30497000

25447000

-25558000

-20995000

4949000

4460000

517000

431000

5466000

4891000

26447000

10461000

3686000

2884000

6336000

5690000

2577000

1626000

4166000

3244000

1109000

1258000

2170000

2446000

20000

1000

3594000

1894000

5613000

3858000

3614000

1894000

5633000

3859000

-2505000

-636000

-3463000

-1413000

-2226000

-21000

-2269000

-42000

1436000 13000 1436000 104000 422000 422000

1000

37000

7000

76000

112000

41000

247000

109000

-1101000

-4000

-1015000

95000

-3606000

-640000

-4478000

-1318000

-3606000

-640000

-4478000

-1318000

29000

25000

85000

59000

-3635000

-665000

-4563000

-1377000

-0.40

-0.09

-0.54

-0.18

-0.40

-0.09

-0.54

-0.18

9013261

7654348

8486427

7649878

9013261

7654348

8486427

7649878

8143133

8000

25447000

432000

-20996000

4891000

20325

143000

312235

319000

56000

-927000

-871000

8475693

8000

25909000

488000

-21923000

4482000

119000

1224329

2000

611000

613000

3858000 3858000

29000

-3635000

-3606000

9700022

10000

30497000

517000

-25558000

5466000

7638497

8000

23743000

325000

-17996000

6080000

15540

166000

34000

-712000

-678000

7654037

8000

23909000

359000

-18708000

5568000

7654037

8000

23909000

359000

-18708000

5568000

500

127000

25000

-665000

-640000

7654037

8000

24036000

384000

-19373000

5055000

7654037

8000

24036000

384000

-19373000

5055000

-4478000

-1318000

926000

225000

262000

293000

228000

116000

1914000

-1436000

-104000

422000

405000

-180000

166000

70000

586000

240000

824000

65000

9000

-84000

252000

224000

248000

-217000

-95000

-2000

1000

-2701000

-807000

85000

20000

6502000

-6587000

-20000

10203000

178000

36000

29000

182000

49000

48000

9936000

-255000

648000

-1082000

1058000

1807000

1706000

725000

175000 473000

18000

8800000 1000000 3858000 179000 10101000 1617000

1. Description of Business and Basis of Presentation NexGel, Inc. (“NexGel” or the “Company”) manufactures high water content, electron beam cross-linked, aqueous polymer hydrogels, or gels, used for wound care, medical diagnostics, transdermal drug delivery and cosmetics. The Company specializes in custom gels by capitalizing on proprietary manufacturing technologies. The Company has historically served as a contract manufacturer, supplying our gels to third parties who incorporate them into their own products. Beginning in 2020, we created two new lines of business for the Company. First, we launched our own line of branded consumer products sold direct to consumers. Second, we expanded into custom and white label opportunities, which focuses on combining our gels with proprietary branded products and white label opportunities. All of our gel products are manufactured using proprietary and non-proprietary mixing, coating and cross-linking technologies. Together, these technologies enable us to produce gels that can satisfy rigid tolerance specifications with respect to a wide range of physical characteristics (e.g., thickness, water content, adherence, absorption, moisture vapor transmission rate [a measure of the passage of water vapor through a substance] and release rate) while maintaining product integrity. Additionally, we have the manufacturing ability to offer broad choices in the selection of liners onto which the gels are coated. Consequently, the Company and its customers are able to determine tolerances in moisture vapor transmission rate and active ingredient release rates while personalizing color and texture. NexGel was previously known as AquaMed Technologies, Inc. (“AquaMed”) before changing its name to NexGel, Inc. on November 14, 2019. Basis of Presentation The condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and are presented in US dollars. The accompanying interim unaudited condensed consolidated financial statements and footnotes of NexGel have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and the instructions to Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the results of the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2026. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and the fifty percent (50%) owned CGN JV (see Note 5). License and Acquisition of Celularity, Inc.’s Portfolio of Commercial-stage Regenerative Biomaterials On March 6, 2026, the Company entered into an Asset Purchase and Exclusive License Agreement (the “Original License Agreement”) with Celularity Inc. (“Celularity”), pursuant to which Celularity agreed to grant to the Company an exclusive perpetual license to Celularity’s commercial-stage regenerative biomaterials portfolio and certain development-stage programs and to sell to the Company assets related to the portfolio (collectively, the “Celularity Transaction”). On April 17, 2026, the Company and Celularity entered into Amendment No. 1 to the Original License Agreement (as amended, the “License Agreement”) and concurrently closed the Celularity Transaction. Pursuant to the License Agreement, in full consideration for the grant of rights and the transfer of assets, the Company agreed to pay or deliver to Celularity aggregate upfront consideration of $<span id="xdx_904_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20260417__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember_zA7FHCOeskJc" title="Pay or deliver to aggregate upfront consideration">13,300 thousand, consisting of (i) $<span id="xdx_905_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_c20260417__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember_zqGXqUsibwO" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Cash payment">8,300 thousand in cash funded by the Notes (as defined below) and of which $6,502 thousand has been paid, and (ii) an unsecured convertible promissory note in the original principal amount of $5,000 thousand (the “Celularity Note”). The Celularity Note bears interest at <span id="xdx_902_eus-gaap--DebtConversionOriginalDebtInterestRateOfDebt_pid_dp_uPure_c20260417__20260417__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember_zTKF3W7MeU8g" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Bears interest rate">10% per annum, matures on the eighteen-month anniversary of issuance and is convertible into shares of common stock at an initial conversion price of $<span id="xdx_902_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20260417__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember_z0wDoSefkca" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Debt conversion price">0.60 per share, subject to adjustment, on terms substantially identical to the Notes (as defined below). In connection with the Celularity Note, the Company issued warrants to purchase an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260417__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember_zLEvjzJd2Qsl" style="font-family: Times New Roman, Times, Serif; font-size: 10pt" title="Issued warrants to purchase of common stock, shares">4,166,667 shares of common stock, on substantially the same terms as the Warrants (as defined below). In addition, the Company is obligated to make up to $20,000 thousand in contingent milestone payments to Celularity upon the achievement of specified commercial milestones under the License Agreement. The products, technologies, and commercial-stage assets acquired and licensed pursuant to the License Agreement (as defined below) are marketed and sold by the Company under the brand name “BioNx.” References in these notes and elsewhere in this Quarterly Report on Form 10-Q to the “BioNx” line of business, “BioNx surgical” revenue, or similar terms refer to revenue and operations derived from the Celularity Transaction. April and May 2026 Private Placement On or about April 17, 2026, in connection with the closing of the Celularity Transaction, the Company entered into a Securities Purchase Agreement (the “April Purchase Agreement”) with certain accredited investors and issued (i) unsecured convertible promissory notes (the “Notes”) in an aggregate original principal amount of $7,375 thousand and (ii) warrants (the “Warrants”) to purchase an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260417__us-gaap--TypeOfArrangementAxis__custom--AprilPurchaseAgreementMember_ziHjSBEQNrS4" title="Issued warrants to purchase of common stock, shares">6,145,833 shares of common stock, for aggregate gross proceeds to the Company of $7,375 thousand. The Notes bear interest at <span id="xdx_908_eus-gaap--DebtConversionOriginalDebtInterestRateOfDebt_pid_dp_uPure_c20260417__20260417__us-gaap--TypeOfArrangementAxis__custom--AprilPurchaseAgreementMember_zTV5CCiJm09g" title="Bears interest rate">10% per annum, mature on the eighteen-month anniversary of issuance and are convertible into shares of common stock at an initial conversion price of $0.60 per share, subject to customary adjustments and to a downward reset on the twelve-month anniversary of issuance and on the maturity date based on the volume-weighted average prices of the common stock during specified measurement periods. The Warrants have an exercise price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260417__us-gaap--TypeOfArrangementAxis__custom--AprilPurchaseAgreementMember_zf05WAdWvCGe" title="Warrant exercise price">0.80 per share, subject to customary adjustments, and expire on the five-year anniversary of issuance. On or about May 11, 2026, the Company issued additional Notes in an aggregate original principal amount of $1,210 thousand and additional Warrants to purchase an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20260511__us-gaap--TypeOfArrangementAxis__custom--AprilPurchaseAgreementMember_zeRS52WHULPg" title="Issued warrants to purchase of common stock, shares">1,008,334 shares of common stock, on substantially the same terms as those issued under the April Purchase Agreement, for aggregate gross proceeds to the Company of $1,210 thousand.

13300000

8300000

6502000

5000000

0.10

0.60

4166667

20000000

7375000

6145833

7375000

0.10

0.60

0.80

1210000

1008334

1210000

2. Going Concern The accompanying condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles, which contemplate continuation of the Company as a going concern. As of June 30, 2026, the Company had an unrestricted cash balance of $0.5 million. For the six months ended June 30, 2026, the Company incurred a net loss of $4.5 million and had a net usage of cash in operating activities of $2,701 thousand. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. In April and May of 2026, the Company raised $8.6 million to be used for the Celularity Transaction. We expect the license and acquisition of Celularity, Inc.’s portfolio of commercial-stage regenerative biomaterials to contribute positive operating cash flows, improve liquidity, and support ongoing operations. We expect to continue incurring losses for the near-term future. Our ability to continue to operate as a going concern in the long-term is dependent upon our ability to manage and grow our current products and to ultimately achieve profitable operations. Management may consider various options to raise capital to fund our current business activities, potential acquisitions through equity or debt offerings. There can be no assurances, however, that management will be able to obtain sufficient additional funds, if needed, or that such funds, if available, will be obtained on terms satisfactory to us. The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets and liabilities that might be necessary should we be unable to continue as a going concern. Additionally, it is reasonably possible that estimates made in the condensed consolidated financial statements have been, or will be, materially and adversely impacted in the near term as a result of these conditions, including the recoverability of long-lived assets.

500000

-4500000

-2701000

8600000

3. Significant Accounting Policies and Estimates Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. These estimates and assumptions include allowances for doubtful accounts, inventory reserves, deferred taxes and related valuation allowances, share-based compensation, the valuation of the convertible notes embedded derivative liability and fair value of long-lived assets. Actual results could differ from the estimates. Segment Reporting The Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 280, Segment Reporting, requires that an enterprise report selected information about reportable segments in its financial reports issued to its stockholders. The Company has two reportable segments - the NexGel segment and the CGN segment. The NexGel segment is comprised of the manufacturing of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, which is based in Langhorne, Pennsylvania as well as the Kenkoderm and Silly George acquisitions, as well as from the Celularity Asset Purchase and License Agreement. The CGN segment is comprised of the CGN JV used for the Company’s converting and packaging business, which is based in Granbury, Texas. Reclassifications Certain prior year amounts in the consolidated financial statements and accompanying footnotes have been reclassified to conform to the current year presentation. Specifically, deferred revenue was combined with accrued expenses and other current liabilities in the consolidated balance sheet as of December 31, 2025. In addition, the Company separately presented the amortization of the right-of-use asset and the reduction of the operating lease liability within the condensed consolidated statements of cash flows for the six months ended June 30, 2026. These reclassifications had no effect on previously reported total assets, total liabilities, stockholders’ equity, or net loss. Cash, Cash Equivalents and Restricted Cash Cash is comprised of cash in banks. The Company considers highly liquid investments, including U.S. treasury bills purchased with an original maturity of three months or less as well as investments in money market funds for which the carrying amount approximates fair value, due to the short maturities of these investments to be cash equivalents. As of June 30, 2026 and December 31, 2025, the Company had no cash equivalents. The Company also maintains restricted cash under a Partnership Agreement (see Note 16). As of June 30, 2026, restricted cash totaled $1.2 million, representing funds that are contractually restricted from use for general operating purposes and may be utilized only in accordance with the terms of the Partnership Agreement and funding received in connection with the Series A Convertible Note (see Note 16). Restricted cash is included in total cash and restricted cash as presented in the condensed consolidated statements of cash flows. Schedule of Cash and Cash Equivalents <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260630_zStZIyA0xsz6" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_497_20250630_zFcqdvBowlDc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--Cash_iI_maCCERCz1Lb_zEKxpcocepf7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">492</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">725</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RestrictedCashCurrent_iI_maCCERCz1Lb_zyF6brERXYT" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_mtCCERCz1Lb_zmeOMZ9641W7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash and restricted cash shown in the statement of cash flows</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,706</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">725</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Accounts Receivable, Net Trade accounts receivable are stated at the amount the Company expects to collect and do not bear interest. The Company evaluates the collectability of accounts receivable and records a provision to the allowance for credit losses based on factors including the length of time the receivables are past due, the customer’s payment history, the credit quality of the customer and other factors that may affect the customers’ ability to pay. Provisions to the allowances for credit losses are recorded in selling, general and administrative expenses. Account balances are charged off against the allowance when it is probable that the receivable will not be recovered. The allowance for credit losses was $13 and $9 thousand as of June 30, 2026 and December 31, 2025, respectively. Inventory and Cost of Revenues The inventory balance is stated at the lower of cost, the value determined by the first-in, first-out method, or net realizable value. The Company evaluates inventories for excess quantities, obsolescence, and shelf-life expiration. This evaluation includes an analysis of historical sales levels by product, projections of future demand, the risk of technological or competitive obsolescence for products, general market conditions, and a review of the shelf-life expiration dates for products. These factors determine when, and if, the Company adjusts the carrying value of inventory to estimated net realizable value. The reserve recorded against inventories was $352 thousand and $271 thousand as of June 30, 2026 and December 31, 2025, respectively. The Company produces proprietary branded products and white label opportunities in our manufacturing of consumer products. In our contract manufacturing, the Company builds its products based on customer orders and immediately ships the products upon completion of the production process. The inventory balance is made up of raw materials, work-in-progress, and finished goods. Inventory is maintained at the Company’s warehouses, third party warehouses and at fulfilment centers owned by Amazon. The “Cost of revenues” line item in the condensed consolidated statements of operations is comprised of the book value of inventory sold to customers during the reporting period. When circumstances dictate that we use net realizable value as the basis for recording inventory, we base our estimates on expected future selling prices less expected disposal costs. Research and Development Our research and development activities focus on new and innovative products designed to support revenue growth. Research and development expenses consist primarily of contracted development and testing efforts associated with development of products. Research and development costs are expensed as incurred. Property and Equipment, Net Property and equipment is recorded at historical cost, net of accumulated depreciation and amortization. Depreciation is provided over the assets’ useful lives on a straight-line basis. Leasehold improvements and right-of-use assets under financing lease arrangements are amortized on a straight-line basis over the shorter of their estimated useful lives or lease terms. Repairs and maintenance costs are expensed as incurred. Management periodically assesses the estimated useful life over which assets are depreciated or amortized. If the analysis warrants a change in the estimated useful life of property and equipment, management will reduce the estimated useful life and depreciate or amortize the carrying value prospectively over the shorter remaining useful life. The carrying amounts of assets sold or retired and the related accumulated depreciation are eliminated in the year of disposal and any resulting gains and losses are included in the results of operations during the same year. Impairment of Long-Lived Assets The Company reviews its property and equipment and any identifiable intangibles with definite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted operating cash flow expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less costs to sell. Goodwill and Intangible Assets In applying the acquisition method of accounting, amounts assigned to identifiable assets and liabilities acquired were based on estimated fair values as of the date of acquisition, with the remainder recorded as goodwill. Identifiable intangible assets are initially recorded at fair value using generally accepted valuation methods appropriate for the type of intangible asset. Identifiable intangible assets with definite lives are amortized over their estimated useful lives and are reviewed for impairment if indicators of impairment arise. Intangible assets with indefinite lives are tested for impairment within one year of the acquisition date or annually as of December 31, and whenever indicators of impairment exist. The fair value of intangible assets is compared with their carrying values, and an impairment loss would be recognized for the amount by which carrying amount exceeds its fair value. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are recorded at historical cost and are primarily made up of $9 thousand and $45 thousand of prepaid insurance, and $1,073 thousand and $451 thousand general prepaid expenses and other current assets as of June 30, 2026 and December 31, 2025, respectively. Other Assets Other assets are recorded at historical costs, and as of June 30, 2026 and December 31, 2025, the balance is primarily comprised of spare parts for manufacturing equipment. The Company maintains spare parts for either repair and maintenance, which is expensed as incurred, or replacement of capitalized equipment. Capitalized equipment spare parts are not subject to depreciation until such time that they are placed into service and the part that is being replaced is disposed. Fair Value Measurements The Company utilizes the fair value hierarchy to apply fair value measurements. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair values that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The basis for fair value measurements for each level within the hierarchy is described below: Level 1 —Quoted prices for identical assets or liabilities in active markets. Level 2 —Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 —Valuations derived from valuation techniques in which one or more significant inputs to the valuation model are unobservable. The Company considers the carrying amounts of its financial instruments (cash, accounts receivable and accounts payable, notes payable and convertible notes payable) in the condensed consolidated balance sheet to approximate fair value because of the short-term or highly liquid nature of these financial instruments. In 2025, the Company estimated the fair value of its investment in NexGelRX to be $249 thousand using Level 2 inputs. In addition, the Company has elected to use the measurement alternative for its investment in NexGelRX since it has no readily determinable fair market value, and will report the investment at costs, adjusted for impairments or any observable price changes in ordinary transactions with identical or similar investments. Convertible Notes Derivative Liabilities The Company measures certain liabilities at fair value on a recurring basis. These liabilities consist primarily of derivative liabilities associated with convertible notes (see Note 13). These instruments are valued using significant unobservable inputs and are classified within Level 3 of the fair value hierarchy. The fair value of these instruments was updated as of June 30, 2026 in accordance with ASC 820, Fair Value Measurement, reflecting all relevant market inputs and valuation considerations as of the reporting date. Valuation Methodology The derivative liabilities relate to embedded features within the Company’s convertible notes, including variable conversion pricing. Because these features are not considered indexed to the Company’s own stock and may require net-cash settlement, they are accounted for as derivative liabilities under ASC 815, Derivatives and Hedging—Contracts in Entity’s Own Equity. The Company engaged an independent valuation specialist to estimate the fair value of the derivative liabilities using a Monte Carlo simulation model, which incorporates assumptions regarding expected volatility, risk-free interest rates, expected term, and probability-weighted assessments of contingent events. Management concluded the derivative liability was estimated based on Level 3 inputs. Fair Value Hierarchy Schedule of Fair Value of Derivative Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zkFgVsAak6Ig" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z0i97DekDEu8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zbrAwk3C49K2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630_zpnP2Xgp0Cil" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_zWJbRIMBW7Pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify; padding-bottom: 2.5pt">Derivative liability as of June 30, 2026 ($ in thousands)</td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">–</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">–</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">8,665</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">8,665</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Level 3 Roll-forward Schedule of Level 3 Roll-forward for Derivative Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260101__20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zUH4Ex7HqgP9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount ($ in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilities_iS_pn3n3_zSVTea4PYWy4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at January 1, 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DerivativeLiabilitiesRecognizedAsDebtDiscounts_pn3n3_z6ECwfVgkdEj" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Initial recognition of derivative liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueAdjustmentOfWarrants_pn3n3_zrKeJQ76eblj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,436</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilities_iE_pn3n3_z90zR7vF8XK8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,665</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Equity Classified Warrants Warrants that meet all necessary criteria to be accounted for as equity in accordance with ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, are presented within additional paid-in capital within the Company’s consolidated statements of changes in stockholders’ equity and consolidated balance sheets. Warrants classified as equity are initially measured at fair value using a Black-Scholes option valuation model. Subsequent changes in fair value are not recognized as long as the warrants continue to be classified as equity. Offering Costs The Company complies with the requirements of ASC 340-40, Other Assets and Deferred Cost, with regards to offering costs. Prior to the completion of an offering, offering costs will be capitalized as deferred offering costs on the balance sheet. The deferred offering costs will be charged to stockholders’ equity upon the completion of an offering or to expense if the offering is not completed. Revenue Recognition The Company records revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company currently recognizes revenue predominately from three sources: contract manufacturing, custom and white label finished goods manufacturing (“Custom and white label”), and our branded consumer products. Contract manufacturing and Custom and white label revenues are recognized at the point where the customer obtains control of the goods and the Company satisfies its performance obligation, which generally is at the time the customer receives the product. Branded consumer product revenue is derived from direct-to-consumer purchases through websites like Amazon and through our Shopify stores. Revenue is recognized upon shipment to the end customer. The Company’s customers consist of other life sciences companies and Amazon retail customers. Revenues are predominately concentrated in the United States, but with the Silly George acquisition, have expanded into Europe and Asia. Payment terms, excluding branded consumer products, vary by the type and location of customer and may differ by jurisdiction and customer but payment is generally required in a term ranging from 30 to 60 days from date of shipment. Branded consumer products are purchased and paid for by the consumer at the time the transaction is completed. Estimates for product returns, allowances and discounts are recorded as a reduction of revenue and are established at the time of sale. Returns are estimated through a comparison of historical return data and are determined for each product and adjusted for known or expected changes in the marketplace specific to each product, when appropriate. Historically, sales return provisions have not been material. Amounts accrued for sales allowances and discounts are based on estimates of amounts that are expected to be claimed on the related sales and are based on historical data. Payments for allowances and discounts have historically been immaterial. Disaggregated revenue by sales type ($ in thousands): Schedule of Disaggregated Revenue by Sales Type <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260401__20260630_zJpAjht6EvZk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20250630_zEhgsKu2wRxf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenueFromContractManufacturing_pn3n3_maRFCWCzQmO_z0UiR8SBTbA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract manufacturing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">863</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenueFromFinishedGoods_pn3n3_maRFCWCzQmO_zoA1mDnGLYzb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Custom and white label finished goods manufacturing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--RevenueFromConsumerProducts_pn3n3_maRFCWCzQmO_zqABnP6mxvx" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consumer branded products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,756</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,884</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenueClassifiedAsMedicalDevicesOthers_pn3n3_maRFCWCzQmO_zY1anpHGz618" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical devices/other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenueClassifiedAsBiomaterialProducts_pn3n3_maRFCWCzQmO_zSNf8DTq3PO1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Biomaterial products</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">814</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_mtRFCWCzQmO_zP6DR7RxjWGd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,686</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_z2pL90wawke9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250630_zRZ76kFaDqw2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Six Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenueFromContractManufacturing_pn3n3_maRFCWCzQmO_zcZbz46ngtR1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract manufacturing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,954</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,811</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenueFromFinishedGoods_pn3n3_maRFCWCzQmO_ztsCS2jjwBJe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Custom and white label finished goods manufacturing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--RevenueFromConsumerProducts_pn3n3_maRFCWCzQmO_zoKJ1ds3X1uh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consumer branded products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,377</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,666</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenueClassifiedAsMedicalDevicesOthers_pn3n3_maRFCWCzQmO_zcP0Z4AKRlQi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical devices/other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenueClassifiedAsBiomaterialProducts_pn3n3_maRFCWCzQmO_zHvdoApqcIm1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Biomaterial products</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">814</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_mtRFCWCzQmO_zulAO8CU14X3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,336</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,690</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company has five distinct lines of business; Contract Manufacturing, Custom and White Label, Consumer Branded Products, Biomaterial products and Medical Devices/Other. Contract Manufacturing Customers order rolls of gel (“rollstock”). The rollstock is shipped to our customers, which they package into finished goods. Historically, this has been the Company’s primary source of revenue. Custom and White Label These products often infuse various ingredients into our base gel to develop unique product offerings to satisfy market demand (e.g. aloe infused into the gel for a beauty mask). The rollstock is converted and packaged into salable units. The finished goods are shipped to the customer, who is ultimately responsible for product distribution. Frequently these products started as development deals, in which the customer paid the Company a small fee to develop a specific product. Once completed, the customer places an order for newly developed product. Consumer Branded Products These products are finished goods marketed and sold directly to consumers by the Company through online and retail channels. We are responsible for sales, marketing, and distribution. The products we sell under our MedaGel brand primarily relate to healthcare over-the-counter (“OTC”) remedy solutions, such as blister and applications. In December 2023 we added a second consumer product brand when we completed the purchase of the Kenkoderm brand. The Kenkoderm skincare line was originally developed by a dermatologist to provide gentle to the skin products for consumer with psoriasis. In May 2024, we added our third consumer product brand with the purchase of the Silly George brand. Silly George is a beauty brand primarily focused on false eyelashes and other eye related products. We continue to look for additional potential acquisitions as part of our consumer product “roll-up” strategy. Biomaterial Products These finished goods products are licensed as a result of the Celularity transaction, disclosed in Note 1, and establishes the Company as an emerging platform in regenerative medicine through the formation of BioNX Surgical, a dedicated division focused on advanced biomaterials for tendon repair, soft tissue reconstruction, and bone regeneration. The acquired portfolio includes 6 established products with over a decade of clinical use and existing reimbursement coverage We are responsible for sales, marketing and distribution. Medical Devices/Other Medical Devices are a hybrid business, combining elements of Custom & White Label and Consumer Branded Products. Medical Devices, which are not yet marketed, are expected to be distributed through strategic partnerships. We will manufacture and possibly convert/package the device while the strategic partner brings the product to market. Small market Medical Devices could be launched by us, but also be offered to a distributor to reach the full scale of the market. Other includes freight charged to customers who purchase the Company’s branded consumer products through their Shopify stores. Shipping and Handling Revenue and Expense Shipping and handling revenue and expense are included in our condensed consolidated statements of operations in revenues and cost of revenues, respectively. The Company accounts for shipping activities, consisting of direct costs to ship products performed after the risk of loss passes to the customer. Shipping revenue and expense are primarily generated through the Amazon marketplace and Silly George direct customer sales. Share-based Compensation On August 28, 2019, the Company adopted the 2019 Long-Term Incentive Plan, as amended (the “2019 Plan”). See Note 15 for further details regarding the 2019 Plan. The 2019 Plan provides certain employees, contractors, and outside directors with share-based compensation in the form of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalent rights and other awards. The fair values of incentive stock option award grants are estimated as of the date of grant using a Black-Scholes option valuation model. Compensation expense is recognized in the condensed consolidated statements of operations on a straight-line basis over the requisite service period, which is generally the vesting period. Income Taxes Income taxes are accounted for using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement and tax bases of assets and liabilities at the applicable tax rates. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates. Tax benefits are recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by a tax authority and based upon the technical merits of the tax position. The tax benefit recognized in the consolidated financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. An unrecognized tax benefit, or a portion thereof, is presented in the consolidated financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. Leases We account for our leases in accordance with ASC 842, Leases. We determine whether an arrangement is an operating or financing lease at contract inception. Operating leases, requires recognition of leases on the consolidated balance sheets as right-of-use (“ROU”) assets and lease liabilities. ROU assets represent the Company’s right to use underlying assets for the lease terms and lease liabilities represent the Company’s obligation to make lease payments arising from the leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value and future minimum lease payments over the lease term at commencement date. As the Company’s leases do not provide an implicit rate, the Company used its estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. A number of the lease agreements contain options to renew and options to terminate the leases early. The lease term used to calculate ROU assets and lease liabilities only includes renewal and termination options that are deemed reasonably certain to be exercised. The Company recognized lease liabilities, with corresponding ROU assets, based on the present value of unpaid lease payments for existing operating leases longer than twelve months. The ROU assets were adjusted pursuant to ASC 842 transition guidance for existing lease-related balances of accrued and prepaid rent, and unamortized lease incentives provided by lessors. Operating lease cost is recognized as a single lease cost on a straight-line basis over the lease term and is recorded in cost of revenues and selling, general and administrative expenses. Variable lease payments for common area maintenance, property taxes and other operating expenses are recognized as expense in the year when the changes in facts and circumstances on which the variable lease payments are based occur. The Company has elected not to separate lease and non-lease components for all property leases for the purposes of calculating ROU assets and lease liabilities. Financing leases are those that transfer substantially all of the risks and rewards of ownership to the Company. At the lease commencement date, the Company recognizes a financing lease ROU asset and a corresponding lease liability measured at the present value of future lease payments. The ROU asset is subsequently amortized on a straight-line basis over the shorter of the lease term or the useful life of the underlying asset, while the lease liability is increased by interest expense and reduced by lease payments made. Interest expense on the lease liability and amortization of the ROU asset are presented separately in the consolidated statements of operations, resulting in a front-loaded expense pattern over the lease term. Financing lease ROU assets are included in property and equipment, net, and the related lease liabilities are included within current and long-term liabilities, as applicable. Variable Interest Entity The Company reviews each legal entity formed by parties related to the Company to determine whether or not the Company has a variable interest in the entity and whether or not the entity would meet the definition of a variable interest entity (“VIE”) in accordance with ASC Topic 810, Consolidation. In assessing whether the Company has a variable interest in the entity as a whole, the Company considers and makes judgements regarding the purpose and design of the entity, the value of the licensed assets to the entity, the value of the entity’s total assets and the significant activities of the entity. If the Company has a variable interest in the entity as a whole, the Company assesses whether or not the Company is a primary beneficiary of that VIE, based on a number of factors, including: (i) which party has the power to direct the activities that most significantly affect the VIE’s economic performance, (ii) the parties’ contractual rights and responsibilities pursuant to the collaboration agreement, and (iii) which party has the obligation to absorb losses of or the right to receive benefits from the VIE that could be significant to the VIE. If the Company determines that it is the primary beneficiary of a VIE at the onset of the collaboration, the collaboration is treated as a business combination and the Company consolidates the financial statements of the VIE into the Company’s consolidated financial statements. On a quarterly basis, the Company will evaluate whether it continues to be the primary beneficiary of the consolidated VIE. If the Company determines that it is no longer the primary beneficiary of a consolidated VIE, it deconsolidates the VIE in the period in which the determination is made. Assets and liabilities recorded as a result of consolidating the financial results of the VIE into the Company’s consolidated balance sheet do not represent additional assets that could be used to satisfy claims against the Company’s general assets or liabilities for which creditors have recourse to the Company’s general assets. Accounting Pronouncements Issued But Not Yet Adopted In December 2025, the FASB issued ASU 2025-12, Codification Improvements to make improvements to the Codification arising from technical corrections, unintended application of the Codification, and clarifications. For all entities, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2026, including interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements and disclosures. In November 2024, the FASB issued the ASC 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-04) Disaggregation of Income Statement Expenses, which requires additional disclosure of the nature of expenses included in the income statement in response to requests from investors for more information about an entity’s expenses. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as disclosures about selling expenses. The guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements and disclosures.

Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. These estimates and assumptions include allowances for doubtful accounts, inventory reserves, deferred taxes and related valuation allowances, share-based compensation, the valuation of the convertible notes embedded derivative liability and fair value of long-lived assets. Actual results could differ from the estimates.

Segment Reporting The Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) Topic 280, Segment Reporting, requires that an enterprise report selected information about reportable segments in its financial reports issued to its stockholders. The Company has two reportable segments - the NexGel segment and the CGN segment. The NexGel segment is comprised of the manufacturing of ultra-gentle, high-water-content hydrogel products for healthcare and consumer applications, which is based in Langhorne, Pennsylvania as well as the Kenkoderm and Silly George acquisitions, as well as from the Celularity Asset Purchase and License Agreement. The CGN segment is comprised of the CGN JV used for the Company’s converting and packaging business, which is based in Granbury, Texas.

Reclassifications Certain prior year amounts in the consolidated financial statements and accompanying footnotes have been reclassified to conform to the current year presentation. Specifically, deferred revenue was combined with accrued expenses and other current liabilities in the consolidated balance sheet as of December 31, 2025. In addition, the Company separately presented the amortization of the right-of-use asset and the reduction of the operating lease liability within the condensed consolidated statements of cash flows for the six months ended June 30, 2026. These reclassifications had no effect on previously reported total assets, total liabilities, stockholders’ equity, or net loss.

Cash, Cash Equivalents and Restricted Cash Cash is comprised of cash in banks. The Company considers highly liquid investments, including U.S. treasury bills purchased with an original maturity of three months or less as well as investments in money market funds for which the carrying amount approximates fair value, due to the short maturities of these investments to be cash equivalents. As of June 30, 2026 and December 31, 2025, the Company had no cash equivalents. The Company also maintains restricted cash under a Partnership Agreement (see Note 16). As of June 30, 2026, restricted cash totaled $1.2 million, representing funds that are contractually restricted from use for general operating purposes and may be utilized only in accordance with the terms of the Partnership Agreement and funding received in connection with the Series A Convertible Note (see Note 16). Restricted cash is included in total cash and restricted cash as presented in the condensed consolidated statements of cash flows. Schedule of Cash and Cash Equivalents <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260630_zStZIyA0xsz6" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_497_20250630_zFcqdvBowlDc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--Cash_iI_maCCERCz1Lb_zEKxpcocepf7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">492</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">725</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RestrictedCashCurrent_iI_maCCERCz1Lb_zyF6brERXYT" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_mtCCERCz1Lb_zmeOMZ9641W7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash and restricted cash shown in the statement of cash flows</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,706</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">725</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1200000

Schedule of Cash and Cash Equivalents <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260630_zStZIyA0xsz6" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_497_20250630_zFcqdvBowlDc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--Cash_iI_maCCERCz1Lb_zEKxpcocepf7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">492</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">725</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RestrictedCashCurrent_iI_maCCERCz1Lb_zyF6brERXYT" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Restricted cash</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,214</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iTI_mtCCERCz1Lb_zmeOMZ9641W7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total cash and restricted cash shown in the statement of cash flows</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,706</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">725</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

492000

725000

1214000

1706000

725000

Accounts Receivable, Net Trade accounts receivable are stated at the amount the Company expects to collect and do not bear interest. The Company evaluates the collectability of accounts receivable and records a provision to the allowance for credit losses based on factors including the length of time the receivables are past due, the customer’s payment history, the credit quality of the customer and other factors that may affect the customers’ ability to pay. Provisions to the allowances for credit losses are recorded in selling, general and administrative expenses. Account balances are charged off against the allowance when it is probable that the receivable will not be recovered. The allowance for credit losses was $13 and $9 thousand as of June 30, 2026 and December 31, 2025, respectively.

13000

9000

Inventory and Cost of Revenues The inventory balance is stated at the lower of cost, the value determined by the first-in, first-out method, or net realizable value. The Company evaluates inventories for excess quantities, obsolescence, and shelf-life expiration. This evaluation includes an analysis of historical sales levels by product, projections of future demand, the risk of technological or competitive obsolescence for products, general market conditions, and a review of the shelf-life expiration dates for products. These factors determine when, and if, the Company adjusts the carrying value of inventory to estimated net realizable value. The reserve recorded against inventories was $352 thousand and $271 thousand as of June 30, 2026 and December 31, 2025, respectively. The Company produces proprietary branded products and white label opportunities in our manufacturing of consumer products. In our contract manufacturing, the Company builds its products based on customer orders and immediately ships the products upon completion of the production process. The inventory balance is made up of raw materials, work-in-progress, and finished goods. Inventory is maintained at the Company’s warehouses, third party warehouses and at fulfilment centers owned by Amazon. The “Cost of revenues” line item in the condensed consolidated statements of operations is comprised of the book value of inventory sold to customers during the reporting period. When circumstances dictate that we use net realizable value as the basis for recording inventory, we base our estimates on expected future selling prices less expected disposal costs.

352000

271000

Research and Development Our research and development activities focus on new and innovative products designed to support revenue growth. Research and development expenses consist primarily of contracted development and testing efforts associated with development of products. Research and development costs are expensed as incurred.

Property and Equipment, Net Property and equipment is recorded at historical cost, net of accumulated depreciation and amortization. Depreciation is provided over the assets’ useful lives on a straight-line basis. Leasehold improvements and right-of-use assets under financing lease arrangements are amortized on a straight-line basis over the shorter of their estimated useful lives or lease terms. Repairs and maintenance costs are expensed as incurred. Management periodically assesses the estimated useful life over which assets are depreciated or amortized. If the analysis warrants a change in the estimated useful life of property and equipment, management will reduce the estimated useful life and depreciate or amortize the carrying value prospectively over the shorter remaining useful life. The carrying amounts of assets sold or retired and the related accumulated depreciation are eliminated in the year of disposal and any resulting gains and losses are included in the results of operations during the same year.

Impairment of Long-Lived Assets The Company reviews its property and equipment and any identifiable intangibles with definite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted operating cash flow expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less costs to sell.

Goodwill and Intangible Assets In applying the acquisition method of accounting, amounts assigned to identifiable assets and liabilities acquired were based on estimated fair values as of the date of acquisition, with the remainder recorded as goodwill. Identifiable intangible assets are initially recorded at fair value using generally accepted valuation methods appropriate for the type of intangible asset. Identifiable intangible assets with definite lives are amortized over their estimated useful lives and are reviewed for impairment if indicators of impairment arise. Intangible assets with indefinite lives are tested for impairment within one year of the acquisition date or annually as of December 31, and whenever indicators of impairment exist. The fair value of intangible assets is compared with their carrying values, and an impairment loss would be recognized for the amount by which carrying amount exceeds its fair value.

Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are recorded at historical cost and are primarily made up of $9 thousand and $45 thousand of prepaid insurance, and $1,073 thousand and $451 thousand general prepaid expenses and other current assets as of June 30, 2026 and December 31, 2025, respectively.

9000

45000

1073000

451000

Other Assets Other assets are recorded at historical costs, and as of June 30, 2026 and December 31, 2025, the balance is primarily comprised of spare parts for manufacturing equipment. The Company maintains spare parts for either repair and maintenance, which is expensed as incurred, or replacement of capitalized equipment. Capitalized equipment spare parts are not subject to depreciation until such time that they are placed into service and the part that is being replaced is disposed.

Fair Value Measurements The Company utilizes the fair value hierarchy to apply fair value measurements. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair values that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The basis for fair value measurements for each level within the hierarchy is described below: Level 1 —Quoted prices for identical assets or liabilities in active markets. Level 2 —Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 —Valuations derived from valuation techniques in which one or more significant inputs to the valuation model are unobservable. The Company considers the carrying amounts of its financial instruments (cash, accounts receivable and accounts payable, notes payable and convertible notes payable) in the condensed consolidated balance sheet to approximate fair value because of the short-term or highly liquid nature of these financial instruments. In 2025, the Company estimated the fair value of its investment in NexGelRX to be $249 thousand using Level 2 inputs. In addition, the Company has elected to use the measurement alternative for its investment in NexGelRX since it has no readily determinable fair market value, and will report the investment at costs, adjusted for impairments or any observable price changes in ordinary transactions with identical or similar investments. Convertible Notes Derivative Liabilities The Company measures certain liabilities at fair value on a recurring basis. These liabilities consist primarily of derivative liabilities associated with convertible notes (see Note 13). These instruments are valued using significant unobservable inputs and are classified within Level 3 of the fair value hierarchy. The fair value of these instruments was updated as of June 30, 2026 in accordance with ASC 820, Fair Value Measurement, reflecting all relevant market inputs and valuation considerations as of the reporting date. Valuation Methodology The derivative liabilities relate to embedded features within the Company’s convertible notes, including variable conversion pricing. Because these features are not considered indexed to the Company’s own stock and may require net-cash settlement, they are accounted for as derivative liabilities under ASC 815, Derivatives and Hedging—Contracts in Entity’s Own Equity. The Company engaged an independent valuation specialist to estimate the fair value of the derivative liabilities using a Monte Carlo simulation model, which incorporates assumptions regarding expected volatility, risk-free interest rates, expected term, and probability-weighted assessments of contingent events. Management concluded the derivative liability was estimated based on Level 3 inputs. Fair Value Hierarchy Schedule of Fair Value of Derivative Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zkFgVsAak6Ig" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z0i97DekDEu8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zbrAwk3C49K2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630_zpnP2Xgp0Cil" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_zWJbRIMBW7Pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify; padding-bottom: 2.5pt">Derivative liability as of June 30, 2026 ($ in thousands)</td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">–</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">–</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">8,665</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">8,665</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Level 3 Roll-forward Schedule of Level 3 Roll-forward for Derivative Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260101__20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zUH4Ex7HqgP9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount ($ in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilities_iS_pn3n3_zSVTea4PYWy4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at January 1, 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DerivativeLiabilitiesRecognizedAsDebtDiscounts_pn3n3_z6ECwfVgkdEj" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Initial recognition of derivative liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueAdjustmentOfWarrants_pn3n3_zrKeJQ76eblj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,436</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilities_iE_pn3n3_z90zR7vF8XK8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,665</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

249000

Schedule of Fair Value of Derivative Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zkFgVsAak6Ig" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z0i97DekDEu8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zbrAwk3C49K2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630_zpnP2Xgp0Cil" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilitiesCurrent_iI_pn3n3_zWJbRIMBW7Pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify; padding-bottom: 2.5pt">Derivative liability as of June 30, 2026 ($ in thousands)</td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">–</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">–</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">8,665</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 3%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">8,665</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

8665000

Level 3 Roll-forward Schedule of Level 3 Roll-forward for Derivative Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260101__20260630__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zUH4Ex7HqgP9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount ($ in thousands)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilities_iS_pn3n3_zSVTea4PYWy4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Balance at January 1, 2026</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--DerivativeLiabilitiesRecognizedAsDebtDiscounts_pn3n3_z6ECwfVgkdEj" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Initial recognition of derivative liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FairValueAdjustmentOfWarrants_pn3n3_zrKeJQ76eblj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Changes in fair value</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,436</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DerivativeLiabilities_iE_pn3n3_z90zR7vF8XK8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,665</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

10101000

-1436000

8665000

Equity Classified Warrants Warrants that meet all necessary criteria to be accounted for as equity in accordance with ASC 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity, are presented within additional paid-in capital within the Company’s consolidated statements of changes in stockholders’ equity and consolidated balance sheets. Warrants classified as equity are initially measured at fair value using a Black-Scholes option valuation model. Subsequent changes in fair value are not recognized as long as the warrants continue to be classified as equity.

Offering Costs The Company complies with the requirements of ASC 340-40, Other Assets and Deferred Cost, with regards to offering costs. Prior to the completion of an offering, offering costs will be capitalized as deferred offering costs on the balance sheet. The deferred offering costs will be charged to stockholders’ equity upon the completion of an offering or to expense if the offering is not completed.

Revenue Recognition The Company records revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under existing GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company currently recognizes revenue predominately from three sources: contract manufacturing, custom and white label finished goods manufacturing (“Custom and white label”), and our branded consumer products. Contract manufacturing and Custom and white label revenues are recognized at the point where the customer obtains control of the goods and the Company satisfies its performance obligation, which generally is at the time the customer receives the product. Branded consumer product revenue is derived from direct-to-consumer purchases through websites like Amazon and through our Shopify stores. Revenue is recognized upon shipment to the end customer. The Company’s customers consist of other life sciences companies and Amazon retail customers. Revenues are predominately concentrated in the United States, but with the Silly George acquisition, have expanded into Europe and Asia. Payment terms, excluding branded consumer products, vary by the type and location of customer and may differ by jurisdiction and customer but payment is generally required in a term ranging from 30 to 60 days from date of shipment. Branded consumer products are purchased and paid for by the consumer at the time the transaction is completed. Estimates for product returns, allowances and discounts are recorded as a reduction of revenue and are established at the time of sale. Returns are estimated through a comparison of historical return data and are determined for each product and adjusted for known or expected changes in the marketplace specific to each product, when appropriate. Historically, sales return provisions have not been material. Amounts accrued for sales allowances and discounts are based on estimates of amounts that are expected to be claimed on the related sales and are based on historical data. Payments for allowances and discounts have historically been immaterial. Disaggregated revenue by sales type ($ in thousands): Schedule of Disaggregated Revenue by Sales Type <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260401__20260630_zJpAjht6EvZk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20250630_zEhgsKu2wRxf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenueFromContractManufacturing_pn3n3_maRFCWCzQmO_z0UiR8SBTbA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract manufacturing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">863</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenueFromFinishedGoods_pn3n3_maRFCWCzQmO_zoA1mDnGLYzb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Custom and white label finished goods manufacturing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--RevenueFromConsumerProducts_pn3n3_maRFCWCzQmO_zqABnP6mxvx" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consumer branded products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,756</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,884</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenueClassifiedAsMedicalDevicesOthers_pn3n3_maRFCWCzQmO_zY1anpHGz618" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical devices/other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenueClassifiedAsBiomaterialProducts_pn3n3_maRFCWCzQmO_zSNf8DTq3PO1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Biomaterial products</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">814</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_mtRFCWCzQmO_zP6DR7RxjWGd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,686</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_z2pL90wawke9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250630_zRZ76kFaDqw2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Six Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenueFromContractManufacturing_pn3n3_maRFCWCzQmO_zcZbz46ngtR1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract manufacturing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,954</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,811</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenueFromFinishedGoods_pn3n3_maRFCWCzQmO_ztsCS2jjwBJe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Custom and white label finished goods manufacturing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--RevenueFromConsumerProducts_pn3n3_maRFCWCzQmO_zoKJ1ds3X1uh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consumer branded products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,377</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,666</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenueClassifiedAsMedicalDevicesOthers_pn3n3_maRFCWCzQmO_zcP0Z4AKRlQi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical devices/other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenueClassifiedAsBiomaterialProducts_pn3n3_maRFCWCzQmO_zHvdoApqcIm1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Biomaterial products</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">814</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_mtRFCWCzQmO_zulAO8CU14X3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,336</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,690</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company has five distinct lines of business; Contract Manufacturing, Custom and White Label, Consumer Branded Products, Biomaterial products and Medical Devices/Other. Contract Manufacturing Customers order rolls of gel (“rollstock”). The rollstock is shipped to our customers, which they package into finished goods. Historically, this has been the Company’s primary source of revenue. Custom and White Label These products often infuse various ingredients into our base gel to develop unique product offerings to satisfy market demand (e.g. aloe infused into the gel for a beauty mask). The rollstock is converted and packaged into salable units. The finished goods are shipped to the customer, who is ultimately responsible for product distribution. Frequently these products started as development deals, in which the customer paid the Company a small fee to develop a specific product. Once completed, the customer places an order for newly developed product. Consumer Branded Products These products are finished goods marketed and sold directly to consumers by the Company through online and retail channels. We are responsible for sales, marketing, and distribution. The products we sell under our MedaGel brand primarily relate to healthcare over-the-counter (“OTC”) remedy solutions, such as blister and applications. In December 2023 we added a second consumer product brand when we completed the purchase of the Kenkoderm brand. The Kenkoderm skincare line was originally developed by a dermatologist to provide gentle to the skin products for consumer with psoriasis. In May 2024, we added our third consumer product brand with the purchase of the Silly George brand. Silly George is a beauty brand primarily focused on false eyelashes and other eye related products. We continue to look for additional potential acquisitions as part of our consumer product “roll-up” strategy. Biomaterial Products These finished goods products are licensed as a result of the Celularity transaction, disclosed in Note 1, and establishes the Company as an emerging platform in regenerative medicine through the formation of BioNX Surgical, a dedicated division focused on advanced biomaterials for tendon repair, soft tissue reconstruction, and bone regeneration. The acquired portfolio includes 6 established products with over a decade of clinical use and existing reimbursement coverage We are responsible for sales, marketing and distribution. Medical Devices/Other Medical Devices are a hybrid business, combining elements of Custom & White Label and Consumer Branded Products. Medical Devices, which are not yet marketed, are expected to be distributed through strategic partnerships. We will manufacture and possibly convert/package the device while the strategic partner brings the product to market. Small market Medical Devices could be launched by us, but also be offered to a distributor to reach the full scale of the market. Other includes freight charged to customers who purchase the Company’s branded consumer products through their Shopify stores. Shipping and Handling Revenue and Expense Shipping and handling revenue and expense are included in our condensed consolidated statements of operations in revenues and cost of revenues, respectively. The Company accounts for shipping activities, consisting of direct costs to ship products performed after the risk of loss passes to the customer. Shipping revenue and expense are primarily generated through the Amazon marketplace and Silly George direct customer sales.

Disaggregated revenue by sales type ($ in thousands): Schedule of Disaggregated Revenue by Sales Type <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260401__20260630_zJpAjht6EvZk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20250630_zEhgsKu2wRxf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenueFromContractManufacturing_pn3n3_maRFCWCzQmO_z0UiR8SBTbA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract manufacturing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">863</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenueFromFinishedGoods_pn3n3_maRFCWCzQmO_zoA1mDnGLYzb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Custom and white label finished goods manufacturing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--RevenueFromConsumerProducts_pn3n3_maRFCWCzQmO_zqABnP6mxvx" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consumer branded products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,756</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,884</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenueClassifiedAsMedicalDevicesOthers_pn3n3_maRFCWCzQmO_zY1anpHGz618" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical devices/other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">78</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenueClassifiedAsBiomaterialProducts_pn3n3_maRFCWCzQmO_zSNf8DTq3PO1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Biomaterial products</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">814</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_mtRFCWCzQmO_zP6DR7RxjWGd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,686</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,884</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630_z2pL90wawke9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250101__20250630_zRZ76kFaDqw2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Six Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_ecustom--RevenueFromContractManufacturing_pn3n3_maRFCWCzQmO_zcZbz46ngtR1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract manufacturing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,954</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,811</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--RevenueFromFinishedGoods_pn3n3_maRFCWCzQmO_ztsCS2jjwBJe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Custom and white label finished goods manufacturing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--RevenueFromConsumerProducts_pn3n3_maRFCWCzQmO_zoKJ1ds3X1uh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Consumer branded products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,377</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,666</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RevenueClassifiedAsMedicalDevicesOthers_pn3n3_maRFCWCzQmO_zcP0Z4AKRlQi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Medical devices/other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">191</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--RevenueClassifiedAsBiomaterialProducts_pn3n3_maRFCWCzQmO_zHvdoApqcIm1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Biomaterial products</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">814</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_mtRFCWCzQmO_zulAO8CU14X3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,336</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,690</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1038000 863000 27000 1756000 1884000 78000 110000 814000

3686000

2884000

1954000 1811000 27000 3377000 3666000 191000 186000 814000

6336000

5690000

Share-based Compensation On August 28, 2019, the Company adopted the 2019 Long-Term Incentive Plan, as amended (the “2019 Plan”). See Note 15 for further details regarding the 2019 Plan. The 2019 Plan provides certain employees, contractors, and outside directors with share-based compensation in the form of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalent rights and other awards. The fair values of incentive stock option award grants are estimated as of the date of grant using a Black-Scholes option valuation model. Compensation expense is recognized in the condensed consolidated statements of operations on a straight-line basis over the requisite service period, which is generally the vesting period.

Income Taxes Income taxes are accounted for using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement and tax bases of assets and liabilities at the applicable tax rates. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates. Tax benefits are recognized from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by a tax authority and based upon the technical merits of the tax position. The tax benefit recognized in the consolidated financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. An unrecognized tax benefit, or a portion thereof, is presented in the consolidated financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed.

Leases We account for our leases in accordance with ASC 842, Leases. We determine whether an arrangement is an operating or financing lease at contract inception. Operating leases, requires recognition of leases on the consolidated balance sheets as right-of-use (“ROU”) assets and lease liabilities. ROU assets represent the Company’s right to use underlying assets for the lease terms and lease liabilities represent the Company’s obligation to make lease payments arising from the leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value and future minimum lease payments over the lease term at commencement date. As the Company’s leases do not provide an implicit rate, the Company used its estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. A number of the lease agreements contain options to renew and options to terminate the leases early. The lease term used to calculate ROU assets and lease liabilities only includes renewal and termination options that are deemed reasonably certain to be exercised. The Company recognized lease liabilities, with corresponding ROU assets, based on the present value of unpaid lease payments for existing operating leases longer than twelve months. The ROU assets were adjusted pursuant to ASC 842 transition guidance for existing lease-related balances of accrued and prepaid rent, and unamortized lease incentives provided by lessors. Operating lease cost is recognized as a single lease cost on a straight-line basis over the lease term and is recorded in cost of revenues and selling, general and administrative expenses. Variable lease payments for common area maintenance, property taxes and other operating expenses are recognized as expense in the year when the changes in facts and circumstances on which the variable lease payments are based occur. The Company has elected not to separate lease and non-lease components for all property leases for the purposes of calculating ROU assets and lease liabilities. Financing leases are those that transfer substantially all of the risks and rewards of ownership to the Company. At the lease commencement date, the Company recognizes a financing lease ROU asset and a corresponding lease liability measured at the present value of future lease payments. The ROU asset is subsequently amortized on a straight-line basis over the shorter of the lease term or the useful life of the underlying asset, while the lease liability is increased by interest expense and reduced by lease payments made. Interest expense on the lease liability and amortization of the ROU asset are presented separately in the consolidated statements of operations, resulting in a front-loaded expense pattern over the lease term. Financing lease ROU assets are included in property and equipment, net, and the related lease liabilities are included within current and long-term liabilities, as applicable.

Variable Interest Entity The Company reviews each legal entity formed by parties related to the Company to determine whether or not the Company has a variable interest in the entity and whether or not the entity would meet the definition of a variable interest entity (“VIE”) in accordance with ASC Topic 810, Consolidation. In assessing whether the Company has a variable interest in the entity as a whole, the Company considers and makes judgements regarding the purpose and design of the entity, the value of the licensed assets to the entity, the value of the entity’s total assets and the significant activities of the entity. If the Company has a variable interest in the entity as a whole, the Company assesses whether or not the Company is a primary beneficiary of that VIE, based on a number of factors, including: (i) which party has the power to direct the activities that most significantly affect the VIE’s economic performance, (ii) the parties’ contractual rights and responsibilities pursuant to the collaboration agreement, and (iii) which party has the obligation to absorb losses of or the right to receive benefits from the VIE that could be significant to the VIE. If the Company determines that it is the primary beneficiary of a VIE at the onset of the collaboration, the collaboration is treated as a business combination and the Company consolidates the financial statements of the VIE into the Company’s consolidated financial statements. On a quarterly basis, the Company will evaluate whether it continues to be the primary beneficiary of the consolidated VIE. If the Company determines that it is no longer the primary beneficiary of a consolidated VIE, it deconsolidates the VIE in the period in which the determination is made. Assets and liabilities recorded as a result of consolidating the financial results of the VIE into the Company’s consolidated balance sheet do not represent additional assets that could be used to satisfy claims against the Company’s general assets or liabilities for which creditors have recourse to the Company’s general assets.

Accounting Pronouncements Issued But Not Yet Adopted In December 2025, the FASB issued ASU 2025-12, Codification Improvements to make improvements to the Codification arising from technical corrections, unintended application of the Codification, and clarifications. For all entities, the amendments in this Update are effective for annual reporting periods beginning after December 15, 2026, including interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements and disclosures. In November 2024, the FASB issued the ASC 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-04) Disaggregation of Income Statement Expenses, which requires additional disclosure of the nature of expenses included in the income statement in response to requests from investors for more information about an entity’s expenses. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as disclosures about selling expenses. The guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently evaluating the impact this new guidance will have on its financial statements and disclosures.

4. Business Segments The Company’s CODM evaluates the financial performance of the Company’s segments based upon segment operating income or (loss) as the profitability measure. The Company has identified its Chief Executive Officer as the CODM. Items outside of operating income or (loss) are not reported by segment, since they are excluded from the single measure of segment profitability reviewed by the CODM. Summarized financial information concerning the Company’s reportable segments for each of the quarters ended June 30, 2026 and 2025 is presented below. Schedule of Reportable Segments Three Months Ended June 30, 2026 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260401__20260630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zo3UzSmxdhLb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260401__20260630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zOiGVBuxfjMj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260401__20260630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zPWeeE95UsU8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zmpkiWYQitz3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,881</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">805</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,686</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_pn3n3_zssDa26Jqp28" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,997</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,577</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zda6xjnCAJdk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising, marketing and amazon fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">627</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_zeR4nOxWWLjk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,808</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">159</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,967</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingGeneralAndAdministrativeExpense_pn3n3_zjYM1czn21N9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,435</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,594</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_z9Ax29E8488g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_pn3n3_zrCJRN0XGLKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,455</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">159</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,614</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_pn3n3_zgYb4e4plB1c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,571</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">66</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,505</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Three Months Ended June 30, 2025 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20250630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zjLs7FvaXGVk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250401__20250630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zISDbKKTr67l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250401__20250630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zfJ6gvgHf1vg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zNKz5kYlIkze" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">551</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,884</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_pn3n3_z4548h2eieC5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,283</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,626</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zIkQU78AoXT8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising, marketing and amazon fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_zdOv9OxZ3Ozl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,139</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,272</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingGeneralAndAdministrativeExpense_pn3n3_zuMgQGlNnLA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,894</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_zRqYS93RwQ0l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_pn3n3_zAQrW6aDXyyb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,761</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,894</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_pn3n3_zjPbEMdqIua7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(711</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">75</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(636</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Six Months Ended June 30, 2026 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zh9hqRxataN9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zxpTx02NJga9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260101__20260630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zvJ0KzF3aH8e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zy4GBf2Pk7E4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,336</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_pn3n3_zkGZ4686pdqi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,152</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,014</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,166</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zOn6rND3u5Ee" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising, marketing and amazon fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_zLxGG1CUy5Ml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,046</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">304</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,350</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingGeneralAndAdministrativeExpense_pn3n3_z71wfytdDG32" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,309</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">304</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,613</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_zB2ULZxRDp71" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_pn3n3_zDOtbzsXj54e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,329</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">304</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,633</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_pn3n3_z9FdcirJa43" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,655</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">192</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,463</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Six Months Ended June 30, 2025 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zfMb3ryJXsTb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zN0Wi1n01hhd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250101__20250630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_z8ILsTJzul3i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zhMBsoPSRpeb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,331</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,359</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,690</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CostOfRevenue_pn3n3_zLVEiM1YksJ2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,326</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">918</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,244</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zG4fS1W3mD5j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising, marketing and amazon fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_zn8oMtrws6M9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,324</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">271</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,595</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingGeneralAndAdministrativeExpense_pn3n3_zUoCYtdmohqk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,858</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_z2jgU3QUaBHl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_pn3n3_zicctWjMwRWb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,588</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">271</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,859</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_pn3n3_z5YgxcsRAqN8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,583</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">170</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,413</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Summarized total assets for the Company’s reportable segments as of June 30, 2026 and December 31, 2025 are presented below: As of June 30, 2026 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zQBT4Km8AIF2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zo98AknpCKkf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zdWjlS61TKtl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--Assets_iI_zXNia0JReB9e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">Total Assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">22,897</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">3,550</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">26,447</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of December 31, 2025 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20251231__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zOy36HGtzxG3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zs6oY8hIhCLb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zbRLY5VyyDqc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--Assets_iI_zrzux2D4yus1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">Total Assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">6,777</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">3,684</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">10,461</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Summarized financial information concerning the Company’s reportable segments for each of the quarters ended June 30, 2026 and 2025 is presented below. Schedule of Reportable Segments Three Months Ended June 30, 2026 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260401__20260630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zo3UzSmxdhLb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260401__20260630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zOiGVBuxfjMj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260401__20260630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zPWeeE95UsU8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zmpkiWYQitz3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,881</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">805</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,686</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_pn3n3_zssDa26Jqp28" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,997</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,577</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zda6xjnCAJdk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising, marketing and amazon fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">627</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_zeR4nOxWWLjk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,808</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">159</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,967</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingGeneralAndAdministrativeExpense_pn3n3_zjYM1czn21N9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,435</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,594</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_z9Ax29E8488g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_pn3n3_zrCJRN0XGLKe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,455</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">159</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,614</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_pn3n3_zgYb4e4plB1c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,571</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">66</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,505</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Three Months Ended June 30, 2025 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20250630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zjLs7FvaXGVk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250401__20250630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zISDbKKTr67l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250401__20250630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zfJ6gvgHf1vg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zNKz5kYlIkze" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,333</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">551</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,884</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_pn3n3_z4548h2eieC5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,283</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,626</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zIkQU78AoXT8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising, marketing and amazon fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_zdOv9OxZ3Ozl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,139</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,272</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingGeneralAndAdministrativeExpense_pn3n3_zuMgQGlNnLA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,761</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">133</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,894</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_zRqYS93RwQ0l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_pn3n3_zAQrW6aDXyyb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,761</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">133</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,894</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_pn3n3_zjPbEMdqIua7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(711</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">75</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(636</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Six Months Ended June 30, 2026 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260101__20260630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zh9hqRxataN9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zxpTx02NJga9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260101__20260630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zvJ0KzF3aH8e" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zy4GBf2Pk7E4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,826</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,510</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,336</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostOfRevenue_pn3n3_zkGZ4686pdqi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,152</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,014</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,166</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zOn6rND3u5Ee" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising, marketing and amazon fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_zLxGG1CUy5Ml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,046</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">304</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,350</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingGeneralAndAdministrativeExpense_pn3n3_z71wfytdDG32" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,309</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">304</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,613</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_zB2ULZxRDp71" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_pn3n3_zDOtbzsXj54e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,329</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">304</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,633</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_pn3n3_z9FdcirJa43" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,655</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">192</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(3,463</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Six Months Ended June 30, 2025 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zfMb3ryJXsTb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zN0Wi1n01hhd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250101__20250630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_z8ILsTJzul3i" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zhMBsoPSRpeb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Revenues, net</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,331</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,359</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,690</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CostOfRevenue_pn3n3_zLVEiM1YksJ2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,326</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">918</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,244</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--MarketingAndAdvertisingExpense_pn3n3_zG4fS1W3mD5j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Advertising, marketing and amazon fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,263</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--GeneralAndAdministrativeExpense_zn8oMtrws6M9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">General and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,324</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">271</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,595</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingGeneralAndAdministrativeExpense_pn3n3_zUoCYtdmohqk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total Selling, general and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,587</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">271</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,858</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ResearchAndDevelopmentExpense_z2jgU3QUaBHl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingExpenses_pn3n3_zicctWjMwRWb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Operating expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,588</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">271</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,859</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_pn3n3_z5YgxcsRAqN8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Income (loss) from operations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,583</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">170</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1,413</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Summarized total assets for the Company’s reportable segments as of June 30, 2026 and December 31, 2025 are presented below: As of June 30, 2026 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zQBT4Km8AIF2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zo98AknpCKkf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260630__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zdWjlS61TKtl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--Assets_iI_zXNia0JReB9e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">Total Assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">22,897</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">3,550</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">26,447</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of December 31, 2025 ($ in thousands) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20251231__srt--ConsolidatedEntitiesAxis__custom--NexGelMember_zOy36HGtzxG3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">NexGel</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231__srt--ConsolidatedEntitiesAxis__custom--CGNJVMember_zs6oY8hIhCLb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">CGN JV</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231__us-gaap--SubsegmentsConsolidationItemsAxis__us-gaap--ReportableSubsegmentsMember_zbRLY5VyyDqc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--Assets_iI_zrzux2D4yus1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; padding-bottom: 2.5pt">Total Assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">6,777</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">3,684</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">10,461</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2881000

805000

3686000

1997000

580000

2577000

627000

2808000

159000

2967000

3435000

159000

3594000

20000

3455000

159000

3614000

-2571000

66000

-2505000

2333000

551000

2884000

1283000

343000

1626000

622000

1139000

133000

1272000

1761000

133000

1894000

1761000

133000

1894000

-711000

75000

-636000

4826000

1510000

6336000

3152000

1014000

4166000

1263000

4046000

304000

4350000

5309000

304000

5613000

20000

5329000

304000

5633000

-3655000

192000

-3463000

4331000

1359000

5690000

2326000

918000

3244000

1263000

2324000

271000

2595000

3587000

271000

3858000

1000

3588000

271000

3859000

-1583000

170000

-1413000

22897000

3550000

26447000

6777000

3684000

10461000

5. Variable Interest Entities Interest in Joint Venture – CGN On March 1, 2023, the Company acquired a <span id="xdx_904_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20230301__us-gaap--BusinessAcquisitionAxis__custom--CGConvertingAndPackagingLLCMember_zeCJblWJS0o8" title="Acquisition percentage">50% interest in the CGN JV (see Note 1). The CGN JV is owned <span id="xdx_908_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20230301__us-gaap--BusinessAcquisitionAxis__custom--CGConvertingAndPackagingLLCMember_zsbybyeydnyc" title="Acquisition percentage">50% by the Company and <span id="xdx_902_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20230301__us-gaap--BusinessAcquisitionAxis__custom--CGLaboratoriesIncMember_zzt0dK61sxwg" title="Acquisition percentage">50% by CG Labs. CG Labs contributed its existing converting and packaging division to the CGN JV, including, but not limited to, its facilities, equipment, employees, and customers. The Company will contribute $<span id="xdx_901_eus-gaap--PaymentsToAcquireBusinessesNetOfCashAcquired_pn3n3_c20230301__20230301__us-gaap--BusinessAcquisitionAxis__custom--CGConvertingAndPackagingLLCMember_z3TBOSWahOu9" title="Payment to acquire business">500 thousand to the CGN JV, on a schedule to be determined, to be used for equipment and facility upgrades as well as general corporate purposes for the CGN JV. The CGN JV is considered to be a VIE and we have consolidated the CGN JV, because we believe we are the primary beneficiary and we meet the power and the economics criteria. The following table presents the assets and liabilities of the CGN JV, included in the condensed consolidated balance sheet as of June 30, 2026 and December 31, 2025. The assets and liabilities presented below include only the third-party assets and liabilities of the consolidated VIE and excludes any intercompany balances, which were eliminated upon consolidation. . Schedule of Consolidated Variable Interest Entities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zrhuG5FkAIh1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zMQj1yDlc6t6" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eus-gaap--AssetsAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AssetsCurrentAbstract_i01B" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Cash_i02I_pn3n3_maACzsFw_zjDghLHDuUbd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">99</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">94</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableNetCurrent_i02I_pn3n3_maACzsFw_zkbG723Xizdf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">658</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">519</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InventoryNet_i02I_pn3n3_maACzsFw_zWD9PFj1pm66" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">697</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">841</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_i02I_pn3n3_maACzsFw_z5IUao2S1OQk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Prepaid expenses and other current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsCurrent_i02TI_pn3n3_mtACzsFw_maAzAfO_zn8rL59IKSIk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,479</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,465</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IntangibleAssetsNetExcludingGoodwill_i01I_pn3n3_maAzAfO_zLxSA0qyRldf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Intangibles, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_i01I_pn3n3_maAzAfO_zFyDqqEExis3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,261</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,314</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseRightOfUseAsset_i01I_pn3n3_maAzAfO_zw1CxSTAK9og" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Operating lease - right of use asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">832</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">873</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--Assets_i01TI_pn3n3_mtAzAfO_zgdmiHV5N368" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,584</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,684</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS’ EQUITY</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LiabilitiesCurrentAbstract_i01B" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccountsPayableCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_maLCzThG_zbGOj36fBtA9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accounts payable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">621</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">87</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_maLCzThG_zSUZ9yP011Pe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accounts payable – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccountsPayableCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z7OhnWqfTnmk" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_i02I_pn3n3_maLCzThG_ztjI38dYGFJ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--NotesPayableCurrent_i02I_pn3n3_maLCzThG_zyOgSokVZQhj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current portion of note payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">94</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityCurrent_i02I_pn3n3_maLCzThG_zUovfJIYiaYe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Finance lease liability, short term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityCurrent_i02I_pn3n3_maLCzThG_zKoyPyubCdF1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Operating lease liability, current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">85</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LiabilitiesCurrent_i02TI_pn3n3_maLASEzx3I_mtLCzThG_znIhpELCHCxl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,447</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">807</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_i02I_pn3n3_maLASEzx3I_zs6wjmnJXdX6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating lease liability, net of current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">790</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityNoncurrent_i02I_pn3n3_maLASEzx3I_z4MsHLNYNJ76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Finance lease liability, long term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">242</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermNotesPayable_i02I_pn3n3_maLASEzx3I_zSx01tZT7tm7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Notes payable, net of current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">180</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">228</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--Liabilities_i01TI_pn3n3_mtLASEzx3I_z9Jj7Ca1mbt1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,580</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,067</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The amounts above represent the assets and liabilities of the VIE described above, for which we are the primary beneficiary. The assets of the CGN JV consolidated VIE can only be used to settle the obligations of the VIE. All of the liabilities are non-recourse to us as of June 30, 2026 and December 31, 2025.

0.50

500000

Schedule of Consolidated Variable Interest Entities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zrhuG5FkAIh1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20251231__srt--ConsolidatedEntitiesAxis__us-gaap--VariableInterestEntityPrimaryBeneficiaryMember_zMQj1yDlc6t6" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40E_eus-gaap--AssetsAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">ASSETS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AssetsCurrentAbstract_i01B" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current Assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Cash_i02I_pn3n3_maACzsFw_zjDghLHDuUbd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 60%">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">99</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">94</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableNetCurrent_i02I_pn3n3_maACzsFw_zkbG723Xizdf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">658</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">519</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InventoryNet_i02I_pn3n3_maACzsFw_zWD9PFj1pm66" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">697</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">841</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_i02I_pn3n3_maACzsFw_z5IUao2S1OQk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Prepaid expenses and other current assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">11</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AssetsCurrent_i02TI_pn3n3_mtACzsFw_maAzAfO_zn8rL59IKSIk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Total current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,479</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,465</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IntangibleAssetsNetExcludingGoodwill_i01I_pn3n3_maAzAfO_zLxSA0qyRldf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Intangibles, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_i01I_pn3n3_maAzAfO_zFyDqqEExis3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,261</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,314</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseRightOfUseAsset_i01I_pn3n3_maAzAfO_zw1CxSTAK9og" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Operating lease - right of use asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">832</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">873</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--Assets_i01TI_pn3n3_mtAzAfO_zgdmiHV5N368" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 2.5pt">Total assets</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,584</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,684</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS’ EQUITY</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LiabilitiesCurrentAbstract_i01B" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current Liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccountsPayableCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_maLCzThG_zbGOj36fBtA9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accounts payable</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">621</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">87</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsPayableCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_maLCzThG_zSUZ9yP011Pe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accounts payable – related party</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccountsPayableCurrent_i02I_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z7OhnWqfTnmk" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">581</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_i02I_pn3n3_maLCzThG_ztjI38dYGFJ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--NotesPayableCurrent_i02I_pn3n3_maLCzThG_zyOgSokVZQhj" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current portion of note payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">94</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">93</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityCurrent_i02I_pn3n3_maLCzThG_zUovfJIYiaYe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Finance lease liability, short term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityCurrent_i02I_pn3n3_maLCzThG_zKoyPyubCdF1" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Operating lease liability, current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">85</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LiabilitiesCurrent_i02TI_pn3n3_maLASEzx3I_mtLCzThG_znIhpELCHCxl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Total current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,447</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">807</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiabilityNoncurrent_i02I_pn3n3_maLASEzx3I_zs6wjmnJXdX6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Operating lease liability, net of current portion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">747</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">790</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FinanceLeaseLiabilityNoncurrent_i02I_pn3n3_maLASEzx3I_z4MsHLNYNJ76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Finance lease liability, long term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">242</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermNotesPayable_i02I_pn3n3_maLASEzx3I_zSx01tZT7tm7" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Notes payable, net of current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">180</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">228</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--Liabilities_i01TI_pn3n3_mtLASEzx3I_z9Jj7Ca1mbt1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,580</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,067</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

99000

94000

658000

519000

697000

841000

25000

11000

1479000

1465000

12000

32000

1261000

1314000

832000

873000

3584000

3684000

621000

87000

581000

477000

581000

477000

1000

94000

93000

65000

85000

84000

1447000

807000

747000

790000

206000

242000

180000

228000

2580000

2067000

6. Operating Leases The Company has an operating lease for a commercial manufacturing facility and administrative offices located in Langhorne, Pennsylvania that runs through January 2031. There are two options that can extend the lease term for five years each. The exercise of the lease options to renew is solely at the Company’s discretion. The Company also has a sublease for office and manufacturing space in Granbury, Texas that runs through February 2028. The Company modified the lease agreement through July 2035. On April 17, 2026, in conjunction with the Celularity License Agreement, the Company entered into a five-year sublease with Celularity, Inc. for approximately 7,843 square feet of office space in Florham Park, New Jersey. The sublease incorporates the applicable terms and conditions of the underlying master lease, as amended on September 24, 2023. The following table presents information about the amount and timing of the liability arising from the Company’s operating lease as of June 30, 2026 ($ in thousands): Schedule of Future Minimum Operating Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Maturity of Lease Liability</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630_zqXuXm81GT04" style="border-bottom: Black 1pt solid; text-align: center">Operating Lease Liability</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_i01I_pn3n3_maLOLLPzhGc_zTpkTcCCNL0e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">390</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_pn3n3_maLOLLPzhGc_z6llJXFSfMee" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">786</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_pn3n3_maLOLLPzhGc_zhlBHcGQTIDc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">793</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_pn3n3_maLOLLPzhGc_zYsornTYRNTf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">800</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_pn3n3_maLOLLPzhGc_zR4dqHafio28" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">807</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_i01I_pn3n3_maLOLLPzhGc_znYBP8hgZTcg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">561</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_pn3n3_mtLOLLPzhGc_zvmLapYpVSzj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total undiscounted operating lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,137</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_pn3n3_di_zSYT5Pdij6i2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: Imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(543</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiability_i01I_pn3n3_zMwU3vrVsyjg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Present value of operating lease liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,594</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Total operating lease expense for the six months ended June 30, 2026, and 2025, was $86 thousand and $71 thousand, respectively, and is recorded in cost of goods sold and selling, general, and administrative expenses in the accompanying condensed consolidated statements of operations. The weighted average discount rate was 5.0% and 2.6% and the weighted average remaining lease term was 5.7 years and 6.2 years at June 30, 2026 and 2025, respectively. Supplemental cash flows information related to leases was as follows: Schedule of Supplemental Cash Flows Information Related to Operating Leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260101__20260630_zWxFuglkMmi1" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20250101__20250630_zeBoy6j9B7Sh" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Cash paid for amounts included in the measurement of lease liability ($ in thousands):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeasePayments_pn3n3_zbyxhGks3371" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Operating cash flows from operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">86</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">61</td><td style="width: 1%; text-align: left"> </td></tr> </table>

There are two options that can extend the lease term for five years each.

7843

The following table presents information about the amount and timing of the liability arising from the Company’s operating lease as of June 30, 2026 ($ in thousands): Schedule of Future Minimum Operating Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Maturity of Lease Liability</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630_zqXuXm81GT04" style="border-bottom: Black 1pt solid; text-align: center">Operating Lease Liability</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_i01I_pn3n3_maLOLLPzhGc_zTpkTcCCNL0e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">390</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_i01I_pn3n3_maLOLLPzhGc_z6llJXFSfMee" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">786</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_i01I_pn3n3_maLOLLPzhGc_zhlBHcGQTIDc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">793</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_i01I_pn3n3_maLOLLPzhGc_zYsornTYRNTf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">800</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_i01I_pn3n3_maLOLLPzhGc_zR4dqHafio28" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">807</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_i01I_pn3n3_maLOLLPzhGc_znYBP8hgZTcg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">561</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_i01TI_pn3n3_mtLOLLPzhGc_zvmLapYpVSzj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total undiscounted operating lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,137</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_i01NI_pn3n3_di_zSYT5Pdij6i2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: Imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(543</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiability_i01I_pn3n3_zMwU3vrVsyjg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Present value of operating lease liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,594</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

390000

786000

793000

800000

807000

561000

4137000

543000

3594000

86000

71000

0.050

0.026

P5Y8M12D

P6Y2M12D

Supplemental cash flows information related to leases was as follows: Schedule of Supplemental Cash Flows Information Related to Operating Leases <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260101__20260630_zWxFuglkMmi1" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20250101__20250630_zeBoy6j9B7Sh" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Cash paid for amounts included in the measurement of lease liability ($ in thousands):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeasePayments_pn3n3_zbyxhGks3371" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Operating cash flows from operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">86</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">61</td><td style="width: 1%; text-align: left"> </td></tr> </table>

86000

61000

7. Financing Lease In February 2024, the CGN JV entered into a lease agreement for certain equipment under separate non-cancelable equipment loan and security agreements. The agreement matures in January 2030. The agreements require monthly payments of principal and interest through maturity and are secured by the assets under the lease. As of June 30, 2026, $<span id="xdx_90D_eus-gaap--FinanceLeaseRightOfUseAsset_iI_pn3n3_c20260630__us-gaap--FairValueByAssetClassAxis__us-gaap--PropertyPlantAndEquipmentMember_zDakPxx11tkj" title="Financing lease liability included in property and equipment">419 thousand is included in the property and equipment on the balance sheet. The weighted average interest rate was 9.1% and 9.1% and the weighted average remaining lease term was 3.8 years and 4.8 years at June 30, 2026 and December 31, 2025, respectively. The following table presents information about the amount and timing of the liability arising from the Company’s financing lease as of June 30, 2026: Schedule of Future Minimum Financing Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Maturity of Lease Liability</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_zbK0OJMsVYq5" style="border-bottom: Black 1pt solid; text-align: center">Financing Lease Liability</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maFLLPDzaG3_zqpvcrYAzSsh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">45</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maFLLPDzaG3_zmgAnRP2G6K5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maFLLPDzaG3_zrK78QovfXyi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maFLLPDzaG3_zSGps2N7EPvb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--FinanceLeaseLiabilityPaymentsDueYearThereafterFour_iI_pn3n3_maFLLPDzaG3_zByHFEIyD2aa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pn3n3_mtFLLPDzaG3_zOHQ3RtdsXSe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total undiscounted financing lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">324</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zBRtaUnfFlEi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(49</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiability_iTI_pn3n3_zJjfqTEZ3w3g" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Present value of financing lease liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">275</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Supplemental cash flows information related to financing lease was as follows: Schedule of Supplemental Cash Flows Information Related to Financing Lease <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20260101__20260630_zNJQqUEXUwHd" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20250101__20250630_zVNRpDWUKzQc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Cash paid for amounts included in the measurement of lease liability ($ in thousands):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--FinancingCashFlowsFromFinancingLease_pn3n3_z4FRcWngzfEg" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Financing cash flows from financing lease</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">23</td><td style="width: 1%; text-align: left"> </td></tr> </table>

419000

0.091

P3Y9M18D

P4Y9M18D

The following table presents information about the amount and timing of the liability arising from the Company’s financing lease as of June 30, 2026: Schedule of Future Minimum Financing Lease Payments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: justify">Maturity of Lease Liability</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_zbK0OJMsVYq5" style="border-bottom: Black 1pt solid; text-align: center">Financing Lease Liability</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_403_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maFLLPDzaG3_zqpvcrYAzSsh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">45</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maFLLPDzaG3_zmgAnRP2G6K5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maFLLPDzaG3_zrK78QovfXyi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">91</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maFLLPDzaG3_zSGps2N7EPvb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--FinanceLeaseLiabilityPaymentsDueYearThereafterFour_iI_pn3n3_maFLLPDzaG3_zByHFEIyD2aa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iTI_pn3n3_mtFLLPDzaG3_zOHQ3RtdsXSe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total undiscounted financing lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">324</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zBRtaUnfFlEi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(49</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseLiability_iTI_pn3n3_zJjfqTEZ3w3g" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Present value of financing lease liability</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">275</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

45000

90000

91000

90000

8000

324000

49000

275000

Supplemental cash flows information related to financing lease was as follows: Schedule of Supplemental Cash Flows Information Related to Financing Lease <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20260101__20260630_zNJQqUEXUwHd" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20250101__20250630_zVNRpDWUKzQc" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Cash paid for amounts included in the measurement of lease liability ($ in thousands):</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--FinancingCashFlowsFromFinancingLease_pn3n3_z4FRcWngzfEg" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Financing cash flows from financing lease</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">23</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">23</td><td style="width: 1%; text-align: left"> </td></tr> </table>

23000 23000

8. Inventory, net Inventory consists of the following ($ in thousands): Schedule of Inventory <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20260630_z28GM9EX2bD2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20251231_zmjF0cp7vAPi" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryRawMaterials_iI_pn3n3_maIGzJZx_z1s2UVXN66c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,185</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,374</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maIGzJZx_zDpHnT0q1Zxk" style="vertical-align: bottom; background-color: White"> <td>Work-in-progress</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maIGzJZx_zf7Vts1NMSc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,421</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">961</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryGross_iTI_pn3n3_mtIGzJZx_maINzQec_z6fRbk7anESh" style="vertical-align: bottom; background-color: White"> <td>Inventory, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,656</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,382</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryAdjustments_iNI_pn3n3_di_msINzQec_zPw8DM6RqD6k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Inventory reserve for excess and slow moving inventory</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(353</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(271</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_pn3n3_mtINzQec_zFGvOOv3hZM9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,303</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,111</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Inventory is maintained at the Company’s warehouses and at fulfillment centers owned by Amazon and Borderless. The Company builds its contract manufacturing products based on customer orders and immediately ships the products upon completion of the production process.

Inventory consists of the following ($ in thousands): Schedule of Inventory <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20260630_z28GM9EX2bD2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20251231_zmjF0cp7vAPi" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--InventoryRawMaterials_iI_pn3n3_maIGzJZx_z1s2UVXN66c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,185</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,374</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maIGzJZx_zDpHnT0q1Zxk" style="vertical-align: bottom; background-color: White"> <td>Work-in-progress</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maIGzJZx_zf7Vts1NMSc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,421</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">961</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryGross_iTI_pn3n3_mtIGzJZx_maINzQec_z6fRbk7anESh" style="vertical-align: bottom; background-color: White"> <td>Inventory, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,656</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,382</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryAdjustments_iNI_pn3n3_di_msINzQec_zPw8DM6RqD6k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Inventory reserve for excess and slow moving inventory</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(353</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(271</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_pn3n3_mtINzQec_zFGvOOv3hZM9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,303</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,111</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1185000

1374000

50000

47000

1421000

961000

2656000

2382000

353000

271000

2303000

2111000

9. Property and Equipment, Net Property and equipment consist of the following ($ in thousands): Schedule of Property and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Useful Life</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260630_zA3uA0UqLNF2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20251231_z0V662eNzYmi" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zPrMxWEWewY4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 41%; text-align: left">Machinery and equipment</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zjLLF211eGMk" title="Useful Life">3 - <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zPvckAxIDpSg" title="Useful Life">10</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,186</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,161</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z21pccI1s9qa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Office furniture and equipment</td><td> </td> <td style="text-align: center"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zrKX5qukcjpi" title="Useful Life">3 - <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zHGLVvBgDumb" title="Useful Life">10</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">197</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zYBy0HfhIvIl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: center">6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">419</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zOsce0qPU5X2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Construction in progress</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center">N/A</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">558</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">547</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzMfz_zjrvBbtWWs05" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross </td><td> </td> <td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,324</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzMfz_zpsgfshoKWU2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,499</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,369</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzMfz_z3u9b2ltfN19" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,909</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,955</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expense for the six months ended June 30, 2026 and 2025 was $130 thousand and $82 thousand, respectively.

Property and equipment consist of the following ($ in thousands): Schedule of Property and Equipment <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center">Useful Life</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260630_zA3uA0UqLNF2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20251231_z0V662eNzYmi" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zPrMxWEWewY4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 41%; text-align: left">Machinery and equipment</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_905_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_zjLLF211eGMk" title="Useful Life">3 - <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zPvckAxIDpSg" title="Useful Life">10</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,186</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,161</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z21pccI1s9qa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Office furniture and equipment</td><td> </td> <td style="text-align: center"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MinimumMember_zrKX5qukcjpi" title="Useful Life">3 - <span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember__srt--RangeAxis__srt--MaximumMember_zHGLVvBgDumb" title="Useful Life">10</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">197</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zYBy0HfhIvIl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: center">6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">419</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">419</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zOsce0qPU5X2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Construction in progress</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center">N/A</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">558</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">547</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzMfz_zjrvBbtWWs05" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross </td><td> </td> <td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,408</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,324</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzMfz_zpsgfshoKWU2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,499</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,369</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzMfz_z3u9b2ltfN19" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,909</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,955</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

P3Y

P10Y

2186000

2161000

P3Y

P10Y

245000

197000

P6Y

419000

558000

547000

3408000

3324000

1499000

1369000

1909000

1955000

130000

82000

10. Intangible Assets The following provides a breakdown of identifiable intangible assets as of June 30, 2026 and December 31, 2025: Schedule of Breakdown of Identifiable Intangible Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">License Agreement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">License agreement, gross</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zrR5YAXWKmYe" style="width: 16%; text-align: right" title="Intangible asset, gross">13,605</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zuR4PiK4sjE4" style="width: 16%; text-align: right" title="Intangible asset, gross">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zpIlb9RJLNM5" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(756</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zA0TCoS0jM5e" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Licensee agreement related identifiable intangible assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zb6uxuEU0pI3" style="border-bottom: Black 1pt solid; text-align: right" title="Identifiable intangible assets, net">12,849</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zjjMZQTDYe4" style="border-bottom: Black 1pt solid; text-align: right" title="Identifiable intangible assets, net">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product/Technology Related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Identifiable intangible assets, gross</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zjWOcSX1MHS6" style="text-align: right" title="Intangible asset, gross">325</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z5mfqSMvoUZ6" style="text-align: right" title="Intangible asset, gross">325</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zZ8swxF0h6Xb" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(314</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_znB0pU2dHqA" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(289</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Product/technology related identifiable intangible assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zaxu4cPyk1Tb" style="border-bottom: Black 1pt solid; text-align: right" title="Identifiable intangible assets, net">11</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zJhONK118XQ7" style="border-bottom: Black 1pt solid; text-align: right" title="Identifiable intangible assets, net">36</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Marketing Related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Customer related intangible asset, gross</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelatedIntangibleAssetsMember_zVjvPe5cwyu2" style="text-align: right" title="Intangible asset, gross">17</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelatedIntangibleAssetsMember_zvHs01YpXtmc" style="text-align: right" title="Intangible asset, gross">17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Tradename related intangible asset, gross</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zWRSJE7ixEh2" style="text-align: right" title="Intangible asset, gross">713</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zzh3lw8Q7H2j" style="text-align: right" title="Intangible asset, gross">713</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zfjEygIjcpk5" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(99</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zfawok9GHIK8" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(85</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Marketing related identifiable intangible assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zEwEUZeFgnWj" style="border-bottom: Black 1pt solid; text-align: right" title="Marketing related identifiable intangible assets, net">631</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zmfEGxb8Pfa6" style="border-bottom: Black 1pt solid; text-align: right" title="Marketing related identifiable intangible assets, net">645</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total identifiable intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20260630_zV4N4BOkSrV" style="border-bottom: Black 2.5pt double; text-align: right" title="Total identifiable intangible assets, net">13,491</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20251231_zuE8wtNccydj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total identifiable intangible assets, net">681</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As discussed in Note 1, on April 17, 2026, the Company completed the acquisition of an exclusive license and certain related assets from Celularity pursuant to the License Agreement. The Company accounted for the transaction as an asset acquisition and recorded a finite-lived intangible asset with an initial carrying value of $13.3 million, consisting of $8.3 million in cash and a $5.0 million convertible promissory note. The acquired license is being amortized on a straight-line basis over its estimated useful life of three years. In connection with the May 15, 2024 acquisition of Silly George, the Company identified intangible assets of $<span id="xdx_901_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240515__us-gaap--BusinessAcquisitionAxis__custom--SillyGeorgeAcquisitionMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TechnologyRelatedAndCustomerRelatedIntangiblesMember_zNZrCjEhtb3h" title="Intangible assets">600 thousand representing trademark related intangibles with indefinite lives. The intangible assets with definite lives are being amortized on a straight-line basis over their weighted average estimated useful life of 2.8 years and amortization expense amounted to $795 and $32 thousand for the six months ended June 30, 2026 and 2025, respectively. <p id="xdx_893_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z66HTA8Kxl8e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">As of June 30, 2026, the estimated annual amortization expense for each of the next five fiscal years is as follows ($ in thousands): Schedule of Estimated Annual Amortization Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20260630_zIhpEXxkulSj" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_maFLIANzRW0_zdDBvzhEcvt6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">2026 (remainder of year)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,292</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANzRW0_z7ieDPyCQqH3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,548</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANzRW0_zEYF993V3T15" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,537</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANzRW0_zstiQqNlmg41" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,513</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANzRW0_zTRCiidaoa3j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">2030</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzRW0_zUT298Ub2fKl" style="vertical-align: bottom; background-color: White"> <td>Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,891</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_pn3n3_zyfaJYrcNj62" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Indefinite lived intangible assets (subject to impairment analysis)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_zVpHmcb11uzk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,491</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The following provides a breakdown of identifiable intangible assets as of June 30, 2026 and December 31, 2025: Schedule of Breakdown of Identifiable Intangible Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">License Agreement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">License agreement, gross</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zrR5YAXWKmYe" style="width: 16%; text-align: right" title="Intangible asset, gross">13,605</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zuR4PiK4sjE4" style="width: 16%; text-align: right" title="Intangible asset, gross">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zpIlb9RJLNM5" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(756</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zA0TCoS0jM5e" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Licensee agreement related identifiable intangible assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zb6uxuEU0pI3" style="border-bottom: Black 1pt solid; text-align: right" title="Identifiable intangible assets, net">12,849</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--LicenseAgreementIntangibleAssetsMember_zjjMZQTDYe4" style="border-bottom: Black 1pt solid; text-align: right" title="Identifiable intangible assets, net">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Product/Technology Related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Identifiable intangible assets, gross</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zjWOcSX1MHS6" style="text-align: right" title="Intangible asset, gross">325</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_z5mfqSMvoUZ6" style="text-align: right" title="Intangible asset, gross">325</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zZ8swxF0h6Xb" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(314</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_znB0pU2dHqA" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(289</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Product/technology related identifiable intangible assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zaxu4cPyk1Tb" style="border-bottom: Black 1pt solid; text-align: right" title="Identifiable intangible assets, net">11</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TechnologyBasedIntangibleAssetsMember_zJhONK118XQ7" style="border-bottom: Black 1pt solid; text-align: right" title="Identifiable intangible assets, net">36</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Marketing Related</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Customer related intangible asset, gross</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelatedIntangibleAssetsMember_zVjvPe5cwyu2" style="text-align: right" title="Intangible asset, gross">17</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelatedIntangibleAssetsMember_zvHs01YpXtmc" style="text-align: right" title="Intangible asset, gross">17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Tradename related intangible asset, gross</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zWRSJE7ixEh2" style="text-align: right" title="Intangible asset, gross">713</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zzh3lw8Q7H2j" style="text-align: right" title="Intangible asset, gross">713</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zfjEygIjcpk5" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(99</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zfawok9GHIK8" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated amortization">(85</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left; padding-bottom: 1pt">Marketing related identifiable intangible assets, net</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20260630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zEwEUZeFgnWj" style="border-bottom: Black 1pt solid; text-align: right" title="Marketing related identifiable intangible assets, net">631</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--MarketingRelatedIntangibleAssetsMember_zmfEGxb8Pfa6" style="border-bottom: Black 1pt solid; text-align: right" title="Marketing related identifiable intangible assets, net">645</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total identifiable intangible assets, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20260630_zV4N4BOkSrV" style="border-bottom: Black 2.5pt double; text-align: right" title="Total identifiable intangible assets, net">13,491</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_c20251231_zuE8wtNccydj" style="border-bottom: Black 2.5pt double; text-align: right" title="Total identifiable intangible assets, net">681</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

13605000

756000

12849000

325000

314000

289000

11000

36000

17000

713000

99000

85000

631000

645000

13491000

681000

13300000

8300000

5000000.0

P3Y

600000

P2Y9M18D

795000

32000

<p id="xdx_893_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z66HTA8Kxl8e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">As of June 30, 2026, the estimated annual amortization expense for each of the next five fiscal years is as follows ($ in thousands): Schedule of Estimated Annual Amortization Expense <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20260630_zIhpEXxkulSj" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_maFLIANzRW0_zdDBvzhEcvt6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%">2026 (remainder of year)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,292</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANzRW0_z7ieDPyCQqH3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,548</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANzRW0_zEYF993V3T15" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,537</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANzRW0_zstiQqNlmg41" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,513</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANzRW0_zTRCiidaoa3j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">2030</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzRW0_zUT298Ub2fKl" style="vertical-align: bottom; background-color: White"> <td>Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,891</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IndefiniteLivedIntangibleAssetsExcludingGoodwill_iI_pn3n3_zyfaJYrcNj62" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Indefinite lived intangible assets (subject to impairment analysis)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">600</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--IntangibleAssetsNetExcludingGoodwill_iI_pn3n3_zVpHmcb11uzk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,491</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2292000

4548000

4537000

1513000

1000

12891000

600000

13491000

<p id="xdx_807_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zvwu5t3sR0Hk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">11. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following ($ in thousands): Schedule of Accrued Expenses and Other Current Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260630_zcLNIDjll8Pk" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20251231_zkvxr6OBm3Bc" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maALAOLzpc8_zKFDeSDzAYOk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Salaries, benefits, and incentive compensation</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">136</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">126</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherLiabilities_iI_pn3n3_maALAOLzpc8_zvgxiKVPM8cg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">320</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">336</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_pn3n3_mtALAOLzpc8_zL0dhjWkuunk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total accrued expenses and other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">456</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">462</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses and other current liabilities consist of the following ($ in thousands): Schedule of Accrued Expenses and Other Current Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260630_zcLNIDjll8Pk" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20251231_zkvxr6OBm3Bc" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_pn3n3_maALAOLzpc8_zKFDeSDzAYOk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Salaries, benefits, and incentive compensation</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">136</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">126</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherLiabilities_iI_pn3n3_maALAOLzpc8_zvgxiKVPM8cg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">320</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">336</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccruedLiabilitiesAndOtherLiabilities_iTI_pn3n3_mtALAOLzpc8_zL0dhjWkuunk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total accrued expenses and other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">456</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">462</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

136000

126000

320000

336000

456000

462000

12. Notes Payable CGN Segment The CGN JV has entered into two separate promissory note agreements for the purchase of equipment. These notes have a term of five years beginning on March 13, 2024, accrue interest at 8% and require monthly payments of $9 thousand, collectively, until maturity. The total principal balance outstanding was $275 thousand and $321 thousand as of June 30, 2026 and December 31, 2025, respectively. NexGel Segment The Company has entered into a $13 thousand promissory note agreement for certain leasehold improvements. The Outstanding principal amount of $1 thousand as of December 31, 2025 was repaid in full in January of 2026. Economic Injury Disaster Loan On May 28, 2020, the Company entered into the standard loan documents required for securing a loan (the “EIDL Loan”) from the SBA under its Economic Injury Disaster Loan (“EIDL”) assistance program in light of the impact of the COVID-19 pandemic on the Company’s business. Pursuant to that certain Loan Authorization and Agreement (the “SBA Loan Agreement”), the principal amount of the EIDL Loan is up to $261 thousand, with proceeds to be used for working capital purposes. Interest accrues at the rate of 3.75% per annum. Installment payments, including principal and interest, are due monthly beginning May 28, 2021 (twelve months from the date of the SBA Note) in the amount of $<span id="xdx_900_eus-gaap--DebtInstrumentPeriodicPayment_pn3n3_c20200527__20200528__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zhiLQY78Baj2" title="Debt instrument periodic payment">1 thousand. The balance of principal and interest is payable thirty years from the date of the SBA Note. In connection therewith, the Company received an $8 thousand advance, which does not have to be repaid. On March 26, 2021, the SBA announced that all EIDL loans issued in 2020 will start repayment 24 months from the date of the SBA Note. The SBA has since extended the repayment start to 30 months from the date of the SBA Note. The Company made its first payment in December 2022. The balances of the principal and accrued interest amounted to $<span id="xdx_906_eus-gaap--DebtInstrumentIncreaseAccruedInterest_pn3n3_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_zND0VYQs2lP4" title="Principal and accrued interest">264 and $<span id="xdx_90E_eus-gaap--DebtInstrumentIncreaseAccruedInterest_pn3n3_c20250101__20251231__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_z8wZWN1biltf" title="Principal and accrued interest">267 thousand as of June 30, 2026 and December 31, 2025, respectively. The future annual principal amounts and accrued interest to be paid as of June 30, 2026 are as follows: Schedule of Debt Instruments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_z1iHsZJjKJFf" style="border-bottom: Black 1pt solid; text-align: center">Amount</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">For the year ending December 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pn3n3_maLTDz0GY_zEm63lcPu4Ub" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pn3n3_maLTDz0GY_z5qEqIZ9puT1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pn3n3_maLTDz0GY_zGiuLyWigkj2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pn3n3_maLTDz0GY_zlbT7JxD7zR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pn3n3_maLTDz0GY_z8tvUJxBL1d8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_iI_pn3n3_maLTDz0GY_zMwJNHP3N7f2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">239</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LongTermDebt_iTI_pn3n3_mtLTDz0GY_z16YZRfyaU9l" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">537</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NotesPayableCurrent_iI_pn3n3_zZPs4LtPjXJl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: current portion of notes payable</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">100</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermNotesPayable_iI_pn3n3_zwFAIji88zx1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Long-term portion of notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">437</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

P5Y

0.08

9000

275000

321000

13000

1000

261000

0.0375

1000

8000

264000

267000

The future annual principal amounts and accrued interest to be paid as of June 30, 2026 are as follows: Schedule of Debt Instruments <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630__us-gaap--DebtInstrumentAxis__custom--EconomicInjuryDisasterLoanMember_z1iHsZJjKJFf" style="border-bottom: Black 1pt solid; text-align: center">Amount</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">For the year ending December 31</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pn3n3_maLTDz0GY_zEm63lcPu4Ub" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: justify">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">48</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pn3n3_maLTDz0GY_z5qEqIZ9puT1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">106</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_pn3n3_maLTDz0GY_zGiuLyWigkj2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_pn3n3_maLTDz0GY_zlbT7JxD7zR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_pn3n3_maLTDz0GY_z8tvUJxBL1d8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour_iI_pn3n3_maLTDz0GY_zMwJNHP3N7f2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">239</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--LongTermDebt_iTI_pn3n3_mtLTDz0GY_z16YZRfyaU9l" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">537</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NotesPayableCurrent_iI_pn3n3_zZPs4LtPjXJl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: current portion of notes payable</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">100</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LongTermNotesPayable_iI_pn3n3_zwFAIji88zx1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Long-term portion of notes payable</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">437</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

48000

106000

114000

24000

6000

239000

537000

100000

437000

13. Convertible Notes Payable Series A Convertible Notes On February 10, 2026, the Company issued $1,797 thousand aggregate principal amount of Series A Senior Secured Convertible Note (the “Series A Convertible Note”) for cash proceeds of $1,618 thousand. The Series A Convertible Note matures on February 10, 2028, which is two years from issuance, unless earlier converted, redeemed or repurchased, and bears interest at 10% per annum. Interest is payable in arrears on the first trading date of each calendar month beginning May 1, 2026. The holder may convert the Series A Convertible Note or any portion of the Series A Convertible Note, at their option, into common shares of the Company. The number of common shares to be issued will equal 110% of outstanding principal and accrued unpaid interest converted at the conversion price of $1.244 per share (the “initial conversion price”). The conversion price is subject to adjustment if certain conditions are met. The Series A Convertible Note was issued at a $180 thousand discount, representing the difference between the principal amount and cash proceeds received. This discount is being amortized to interest expense over the contractual term of the Series A Convertible Note using the effective interest method. For the six month period ended June 30, 2026, the Company recognized contractual coupon interest of $21 thousand and amortization of debt discount of $<span id="xdx_90A_eus-gaap--AmortizationOfDebtDiscountPremium_pn3n3_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--SeriesAConvertibleNotesMember_z2rvUwuSyVo3" title="Amortization of debt discount">100 thousand, for total interest expense related to the Series A Convertible Note of $121 thousand. The effective interest rate is approximately 10.5%. During the six months ending June 30, 2026, the holder converted $1,000 thousand of principal amount and unpaid interest of the note into 1,536,564 shares of common stock pursuant to the contractual conversion terms. The Company accounted for the transaction as a debt conversion and reclassified the carrying amount of the converted portion of the Series A Convertible Note, including the related unamortized discount, to stockholders’ equity, and no gain or loss was recognized on the conversion. As of June 30, 2026, the Series A Convertible Note, after considering the partial conversion to common shares, had principal outstanding of $797 thousand and unamortized discount of $64 thousand resulting in a net carrying amount of $733 thousand. Subsequent to June 30, 2026, the holder converted an additional $<span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn3n3_c20260701__20260701__us-gaap--DebtInstrumentAxis__custom--SeriesAConvertibleNotesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zMdVnYNbsJ1j" title="Debt converted principal amount">26 thousand of principal amount and unpaid interest of the Series A Senior Convertible Note into an additional <span id="xdx_908_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20260701__20260701__us-gaap--DebtInstrumentAxis__custom--SeriesAConvertibleNotesMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zNA1siCEqnQ4" title="Debt converted principal amount, shares">47,641 shares of common stock. On August 12, 2026, the remaining restricted cash was applied to the outstanding obligations under the Series A Note. As a result, the Series A Note has been paid in full and the Company no longer has any obligation to make payments or issue shares of common stock. The Security Documents have terminated in accordance with their terms, and the related security interests have been released. As of June 30, 2026, the carrying amount of the Series A Convertible Note approximates its fair value. Convertible Promissory Notes As discussed in Footnote 1, in April and May 2026, to fund the license and acquisition of Celularity Inc’s portfolio of commercial-stage regenerative biomaterials, the Company issued $13,885 thousand aggregate principal amount of convertible promissory notes that bear interest at <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zyDiyInYSHaf" title="Bears interest rate">10% per annum, payable quarterly in cash or, at the holder’s election, in shares of the Company’s common stock at the applicable conversion price. The notes mature 18 months from their issuance date. Upon an event of default, interest accrues at the lesser of 18% per annum or the maximum rate permitted by law. The notes are convertible at the option of the holder into shares of the Company’s common stock at an initial conversion price of $0.60 per share, subject to customary anti-dilution adjustments, including stock splits, stock dividends, recapitalizations, and full-ratchet anti-dilution protection for certain dilutive issuances. In addition, the conversion price is subject to automatic resets on the twelve-month anniversary of issuance and at maturity based on the lower of the then-current conversion price or the five-day volume-weighted average market price immediately preceding the applicable measurement date. The notes contain customary events of default, mandatory prepayment provisions from certain financing proceeds, and optional prepayment provisions requiring payment of a premium. The financing agreements also include registration rights, rights of first refusal, restrictions on certain future financing transactions, and other customary investor protections. The Company is aware that potential events of default may exist under the Notes issued in April and May 2026, relating to (i) the Company’s not having filed the registration statement required under the related Registration Rights Agreement within the time period specified therein, (ii) the Company’s not having timely filed a Current Report on Form 8-K/A containing certain financial statements required under Item 9.01 of Form 8-K in connection with the Celularity Transaction, and (iii) the sufficiency of the Company’s reserve of authorized and unissued shares of common stock for issuance upon conversion of the Notes and exercise of the related warrants. No holder of the Notes has declared an acceleration of the Notes or the amounts payable thereunder. The Company is taking steps intended to address these matters, including filing a registration statement on Form S-1 covering the resale of the shares underlying the Notes and related warrants by August 17, 2026, continuing to work with the staff of the Securities and Exchange Commission regarding the Form 8-K/A, and seeking stockholder approval of an increase in the Company’s authorized shares of common stock and a reverse stock split at a special meeting of stockholders expected to be held on or before September 25, 2026. There can be no assurance that these matters will be resolved on terms satisfactory to the Company, or at all. In connection with the issuance of the convertible notes, the Company also issued <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20260630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zTrwCjCEEGQa" title="Warrant issued">11,570,823 of <span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_pid_dtY_c20260630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_z0jGQq9ZDtQb" style="display: none" title="Warrant issuance term">5five-year warrants with an exercise price of $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260630__us-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zx6n2wnRA3bf" title="Warrant exercise price">0.80 per share. The warrants entitle the holders to purchase shares equal to <span id="xdx_90C_eus-gaap--DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed_pid_dp_uPure_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--SeriesAConvertibleNotesMember_zlK6y3Wla6o5" title="Percentage of principal amount">50% of the shares underlying the principal amount of notes purchased and contain customary anti-dilution adjustments. The warrants may be exercised on a cashless basis under certain circumstances. The Company evaluated the warrants under ASC 815-40 and concluded that they meet the requirements for equity classification. Accordingly, the warrants were recorded in additional paid-in capital and are not subsequently remeasured. The Company evaluated the conversion feature of the notes under ASC 815, Derivatives and Hedging, and determined that the conversion feature does not qualify for the scope exception in ASC 815-40 due primarily to the full-ratchet anti-dilution provisions and automatic conversion price reset features, which could result in a settlement amount that is not indexed solely to the Company’s own stock. Accordingly, the Company bifurcated the embedded conversion feature from the host debt instrument and recorded it as a derivative liability at fair value on the issuance date. The initial fair value assigned to the derivative reduced the carrying amount of the host debt and is subsequently remeasured to fair value at each reporting date, with changes in fair value recognized in the consolidated statements of operations until the derivative is exercised, expires, or is otherwise extinguished. Upon initial recognition, the Company recognized a day-one loss of $56 thousand, representing the excess of the fair value of the embedded derivative liabilities over the net proceeds allocated to the host debt instruments. In connection with the issuance of the convertible debt, the Company issued a placement agent warrant to purchase <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20260630__us-gaap--StatementEquityComponentsAxis__custom--PlacementAgentWarrantMember_zS6NW3HGSmgh" title="Warrant issued">404,248 shares of the Company’s common stock at an exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260630__us-gaap--StatementEquityComponentsAxis__custom--PlacementAgentWarrantMember_z0tOKifzpxS2" title="Warrant exercise price">0.80 per share. The warrant has a term of five years and was issued as compensation for placement agent services. The placement agent warrants were evaluated separately and determined to be equity-classified instruments, and accordingly, the Company recognized a day-one loss of $184 thousand, with the fair value recorded in additional paid-in capital as a cost of the financing and $182 thousand as a placement fee. As of June 30, 2026, the Convertible Promissory Notes had principal outstanding of $13,885 thousand, accrued interest of $256 thousand and unamortized discount of $11,820 thousand resulting in a net carrying amount of $2,321 thousand. Subsequent to June 30, 2026 one of the Qualified Note Holders accelerated their commitment to purchase an additional $1,000 thousand in Notes. In consideration for this acceleration the buyer received a reduction in the purchase price of the principal to $938 thousand, warrants to purchase 833,334 shares of Common Stock, being 50% of the number of shares of Common Stock underlying the $1,000 thousand in principal amount of the Additional Notes, on the same terms and conditions as the Warrants issued at the initial closing, including an exercise price of $0.80 per share, and a separate additional warrant to purchase <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_c20260701__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zFo8EwPBsFW5">30,000 shares of Common Stock as additional consideration for the Buyer’s agreement to accelerate funding. The Additional Warrant was issued on the same terms and conditions as the original Warrant, including an exercise price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20260701__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zeR4JC0GIbk8" title="Warrant exercise price">0.80 per share. The components of the Company’s outstanding convertible debt as of June 30, 2026 were as follows ($ in thousands): Schedule of Outstanding Convertible Debt <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260630__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zhZyDinmLIm5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--SeriesAConvertibleNoteMember_zwvjZW8TPUMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; font-weight: normal; font-style: normal; text-align: justify">Series A Convertible Note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">797</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zPnF68YqPO13" style="vertical-align: bottom; background-color: White"> <td style="font-weight: normal; font-style: normal; text-align: justify; padding-bottom: 1pt">Convertible Promissory Notes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,885</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_maLTDzyY5_zb3kV3b6faKc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total gross principal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,682</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_hus-gaap--DebtInstrumentAxis__custom--SeriesAConvertibleNoteMember_msLTDzyY5_z3EdCSfpJDD9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Unamortized debt discount – Series A Convertible Notes (OID)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(64</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_hus-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_msLTDzyY5_ziepHHc61OEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Unamoritzed debt discount – Convertible Promissory Notes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,820</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--LongTermDebt_iTI_pn3n3_mtLTDzyY5_zqlQRd3pelw9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total principal, net of unamortized debt discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,798</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InterestPayableCurrent_iI_pn3n3_zgj9rN76Ckjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Accrued interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">256</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ConvertibleDebtNoncurrent_iI_zpPjRHd2J1Vk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Convertible debt, long-term, net of debt discount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,054</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1797000

1618000

0.10

1.244

180000

21000

100000

121000

0.105

1000000

1536564

797000

733

26000

47641

13885000

0.10

0.18

0.60

11570823

P5Y

0.80

0.50

56000

404248

0.80

P5Y

182000

13885000

256000

11820000

2321000

1000000

938000

833334

1000000

0.80

30000

0.80

The components of the Company’s outstanding convertible debt as of June 30, 2026 were as follows ($ in thousands): Schedule of Outstanding Convertible Debt <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20260630__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zhZyDinmLIm5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--SeriesAConvertibleNoteMember_zwvjZW8TPUMl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; font-weight: normal; font-style: normal; text-align: justify">Series A Convertible Note</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">797</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_zPnF68YqPO13" style="vertical-align: bottom; background-color: White"> <td style="font-weight: normal; font-style: normal; text-align: justify; padding-bottom: 1pt">Convertible Promissory Notes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,885</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_maLTDzyY5_zb3kV3b6faKc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total gross principal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,682</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_hus-gaap--DebtInstrumentAxis__custom--SeriesAConvertibleNoteMember_msLTDzyY5_z3EdCSfpJDD9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Unamortized debt discount – Series A Convertible Notes (OID)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(64</td><td style="text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_hus-gaap--DebtInstrumentAxis__custom--ConvertiblePromissoryNotesMember_msLTDzyY5_ziepHHc61OEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Unamoritzed debt discount – Convertible Promissory Notes</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(11,820</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--LongTermDebt_iTI_pn3n3_mtLTDzyY5_zqlQRd3pelw9" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total principal, net of unamortized debt discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,798</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InterestPayableCurrent_iI_pn3n3_zgj9rN76Ckjf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Accrued interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">256</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ConvertibleDebtNoncurrent_iI_zpPjRHd2J1Vk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Convertible debt, long-term, net of debt discount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,054</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

797000

13885000

14682000

64000

11820000

2798000

256000

3054000

14. Common Stock At June 30, 2026, the Company has reserved common stock for issuance in relation to the following: Schedule of Reserved Common Stock For Issued Securities in Relation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Share-based compensation plan</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensation_pid_c20260101__20260630_zNHfkNB4ZdYj" style="width: 16%; text-align: right" title="Share-based compensation plan">1,008,363</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants to purchase common stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_pid_c20260101__20260630_zKGesIIT0sxl" style="text-align: right" title="Warrants to purchase common stock">16,768,697</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Restricted stock units</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20260101__20260630_zn50WBOFhgA5" style="text-align: right" title="Restricted stock units">69,990</td><td style="text-align: left"> </td></tr> </table>

At June 30, 2026, the Company has reserved common stock for issuance in relation to the following: Schedule of Reserved Common Stock For Issued Securities in Relation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Share-based compensation plan</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensation_pid_c20260101__20260630_zNHfkNB4ZdYj" style="width: 16%; text-align: right" title="Share-based compensation plan">1,008,363</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Warrants to purchase common stock</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--StockIssuedDuringPeriodSharesConversionOfUnits_pid_c20260101__20260630_zKGesIIT0sxl" style="text-align: right" title="Warrants to purchase common stock">16,768,697</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Restricted stock units</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20260101__20260630_zn50WBOFhgA5" style="text-align: right" title="Restricted stock units">69,990</td><td style="text-align: left"> </td></tr> </table>

1008363

16768697

69990

15. Share-based Compensation The 2019 Plan provides for the granting of incentive stock options, nonqualified stock options, restricted stock, stock appreciation rights (“SARs”), restricted stock units, performance awards, dividend equivalent rights and other awards, which may be granted singly, in combination, or in tandem, and which may be paid in cash, shares of common stock of the Company or a combination of cash and shares of common stock of the Company. Effective as of May 26, 2020, May 3, 2021, and March 23, 2023 respectively, the Board approved an increase of the number of authorized shares of common stock reserved under the 2019 Plan from <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20200526__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zFMQLZPxtn77" title="Number of authorized shares of common stock">57,143 shares of common stock to <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20210503__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zgjf9xxgzeD7" title="Number of authorized shares of common stock">485,715, from <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20210503__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zEdztL5XTMF1" title="Number of authorized shares of common stock">485,715 shares of common stock to <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20230323__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zGJVkW6WUjXa" title="Number of authorized shares of common stock">571,429 shares of common stock, and from <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20230323__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zXNbFuBO0ybh" title="Number of authorized shares of common stock">571,429 shares of common stock to <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20230323__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember__us-gaap--FinancialInstrumentAxis__custom--IncentiveStockOptionsMember_zYIWJcMQX00f" title="Number of authorized shares of common stock">785,715, all of which may be delivered pursuant to incentive stock options. On December 31, 2024, the Board approved an additional <span id="xdx_90C_eus-gaap--DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance_iI_pid_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zl5EGeFkT9Mh" title="Additional common stock reserved for issuance">780,000 shares of common stock to be reserved under the 2019 Plan, bringing the total number of shares underlying the Plan to <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zjQL1HIfhtrd" title="Shares available for grant">1,651,429 of which <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20241231__20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zgTCd7wwWh4" title="Shares been awarded or exercised, shares">793,735 shares have already been awarded or exercised as of that date. The Company’s stockholders approved the <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized_pid_c20250617__20250617__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zRMZTJm6wzgk" title="Additional shares authorized">780,000 share increase at the Company’s 2025 Annual Meeting of Stockholders held on June 17, 2025. Subject to adjustments pursuant to the 2019 Plan, the maximum number of shares of common stock with respect to which stock options or SARs may be granted to an executive officer during any calendar year is <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee_pid_c20240101__20241231__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember__srt--TitleOfIndividualAxis__srt--ExecutiveOfficerMember_z6oJMFHBXRo" title="Shares available for grant">14,286 shares of common stock. <p id="xdx_897_eus-gaap--DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_zHrcdqHg6nh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table contains information about the 2019 Plan as of June 30, 2026: Schedule of Information about Incentive Plan <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Awards</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Awards</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Reserved for</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Awards</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Awards</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Available for</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issuance</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issued</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercised</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Grant</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">2019 Plan(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_fKDEp_zOcicEXK3gye" style="width: 10%; text-align: right" title="Awards Reserved For Issuance">1,651,429</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_fKDEp_zF5GcuwFnR8h" style="width: 10%; text-align: right" title="Awards Issued">1,262,135</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForExercised_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_fKDEp_zrvWGel8dZWf" style="width: 10%; text-align: right" title="Awards Exercised">194,240</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_fKDEp_zmEEb07PBOSf" style="width: 10%; text-align: right" title="Awards Available for Grant">389,294</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Awards issued in excess of 2019 Plan(2)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--AwardsGrantedOutsideOfThe2019PlanMember_fKDIp_zK4XKGYO6zVf" style="border-bottom: Black 1pt solid; text-align: right" title="Awards Reserved For Issuance">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--AwardsGrantedOutsideOfThe2019PlanMember_fKDIp_zND4AIZGrr94" style="border-bottom: Black 1pt solid; text-align: right" title="Awards Issued">100,821</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForExercised_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--AwardsGrantedOutsideOfThe2019PlanMember_fKDIp_z4vMTIxwv5c2" style="border-bottom: Black 1pt solid; text-align: right" title="Awards Exercised">92,113</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--AwardsGrantedOutsideOfThe2019PlanMember_fKDIp_zJHb08nEc9R6" style="border-bottom: Black 1pt solid; text-align: right" title="Awards Available for Grant">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Includes incentive stock options and restricted stock units discussed below.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Includes shares of restricted common stock granted outside of the 2019 Plan to our Chief Executive Officer, Adam Levy.</td></tr> </table> Incentive stock options On April 27, 2026, the Company granted options to purchase up to <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260427__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zmn0Db5qPCik" title="Number of options, granted">160,000 shares of the Company’s common stock at a per share exercise price of $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20260427__20260427__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zl0FMafnc1ua" title="Exercise price of options">0.65 to the current Chief Financial Officer pursuant to the terms of an employment agreement dated April 27, 2026, all of which vests as follows: 40,000 shares vest on the first anniversary, and the remaining 120,000 shares vest in 36 equal monthly installments of 3,334 shares (with rounding adjustments) commencing on March 31, 2027 and expires ten years from the date of the grant. On February 12, 2026, the Company granted options to purchase up to <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260212__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zNuo3at1xyyg" title="Number of options, granted">25,000 shares of the Company’s common stock at a per share exercise price of $<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20260212__20260212__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zIkXGyudymO8" title="Exercise price of options">1.31 to the former Chief Financial Officer pursuant to the terms of a separation agreement dated February 4, 2026, all of which vests immediate and expires three years from the date of the grant. The following table summarizes the Company’s incentive stock option activity and related information for the six months ended June 30, 2026: Schedule of Incentive Stock Option Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Term in</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zcjz0bFnWC0b" style="width: 16%; text-align: right" title="Number of Options, Outstanding, Balance">907,111</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zypviCMcbr3l" style="width: 16%; text-align: right" title="Weighted Average Exercise Price, Outstanding Balance">2.94</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zg1VT2nKIAg" title="Weighted Average Remaining Contractual Term">7.03</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zl5e9SCaUm2f" style="text-align: right" title="Number of Options, Outstanding, Granted">185,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zQM3qZ8U57jk" style="text-align: right" title="Weighted Average Exercise Price, Granted">0.74</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm2_pid_dtY_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zZ7JIBpct4F7" title="Weighted Average Remaining Contractual Term, Granted">9.32</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zdzLR4d5Xls" style="text-align: right" title="Number of Options, Outstanding, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zpLePbTz6tXb" style="text-align: right" title="Weighted Average Exercise Price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zUI0f1KF3vre" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Outstanding, Forfeited">(83,748</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zTdVOxzTCxhe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Forfeited">3.56</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zHEMzQUyTVx5" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding, Balance">1,008,363</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zALEPxuKe4Y5" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Outstanding Balance">2.49</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_znE8ymiDro2a" title="Weighted Average Remaining Contractual Term">6.79</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zA3XdO8WTZU" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Exercisable">600,863</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_z9EpXRYfHju6" title="Weighted Average Exercise Price, Exercisable">2.33</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zimt0V7wKZr1" title="Weighted Average Remaining Contractual Term, Exercisable">6.52</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of June 30, 2026, vested outstanding stock options had $<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_pn3n3_c20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z2qUbqtbn2G1" title="Vested outstanding stock options intrinsic value">1 thousand intrinsic value as the exercise price is greater than the estimated fair value of the underlying common stock, respectively. As of June 30, 2026, there was approximately $<span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_pn3n3_c20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zMecEKaIM5Bd" title="Unrecognized share based compensation">288 thousand of total unrecognized share-based compensation related to unvested stock options, which the Company expects to recognize over the next 33 months excluding options fully contingent upon certain sales-based milestones being achieved within <span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtM_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zmo3LrjCnS7a" title="Period of recognition of stock based compensation expense">18 to <span id="xdx_900_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtM_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_zDS2HbXcKr2h" title="Period of recognition of stock based compensation expense">36 months of commercial release. The Company recognizes compensation expense for stock option awards on a straight-line basis over the applicable service period of the award. The service period is generally the vesting period. The following assumptions were used to calculate the grant date fair value of awards issued during the six months ended June 30, 2026 and 2025: <p id="xdx_895_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zYw34GPp6BD2" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify">Schedule of Assumptions used in Share-based Compensation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 62%">Volatility</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20260101__20260630__srt--RangeAxis__srt--MinimumMember_z7pv9mNICaB2" title="Volatility">76.07-<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20260101__20260630__srt--RangeAxis__srt--MaximumMember_zspdkDyCKZP9" title="Volatility">80.42</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">%</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">78.21</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Risk-free interest rate</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20260101__20260630__srt--RangeAxis__srt--MinimumMember_zu0VoUMBwTx5" title="Risk-free interest rate">3.49-<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20260101__20260630__srt--RangeAxis__srt--MaximumMember_zWGSrgxMRHih" title="Risk-free interest rate">3.94</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.38</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Dividend yield</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.0</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.0</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Expected term</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260630__srt--RangeAxis__srt--MinimumMember_zyTXrH8g6jRd" title="Expected term">3.00-<span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260630__srt--RangeAxis__srt--MaximumMember_zzNYWJ8f2Ual" title="Expected term">5.62 years</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5.00 years</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table> The Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior Accordingly, the Company has elected to use the “simplified method” to estimate the expected term of its share-based awards. The simplified method computes the expected term as the sum of the award’s vesting term plus the original contractual term divided by two. The Company estimated the expected volatility input for the Black-Scholes model using the historical volatility of its own publicly traded common stock over a period commensurate with the expected term of the option. Restrictive stock awards Effective February 12, 2026, the Company granted an aggregate of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20260212__20260212__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zuwK2jqHu168" title="Granted, shares">20,325 fully vested shares of its common stock to its former Chief Financial Officer pursuant to the terms of a separation agreement dated February 4, 2026. An additional <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20260212__20260212__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--TypeOfArrangementAxis__custom--SeparationAgreementMember_zSb08FAj6Hzc" title="Shares authorized for issuance">20,325 shares were authorized for issuance under the agreement; however, such issuance was forfeited. Under ASC 718, Compensation—Stock Compensation, the Company has measured the value of the <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20260212__20260212__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zpqjiUu53NW8">40,650 shares granted based on the closing price of the Company’s stock at the grant date of the RSU Grant ($<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20260212__20260212__srt--TitleOfIndividualAxis__srt--ChiefFinancialOfficerMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_znz7ADv6Mii2" title="Grant price per share">0.63 per share). The following table summarizes the Company’s restricted stock awards activity for the six months ended June 30, 2026: Schedule of Restricted Stock Units Granted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Grant Date</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zFwq1CAHEas9" style="width: 16%; text-align: right" title="Number of units outstanding beginning">60,456</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z8JBNErPTav3" title="Weighted average grant date fair value outstanding beginning">2.41</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zHqRhcDg7DAb" style="text-align: right" title="Number of units, granted">51,934</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zV1Xh27lkIbh" style="text-align: right" title="Weighted average grant date fair value, granted">0.92</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercised and converted to common shares</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZ4D8sYrXlnc" style="text-align: right" title="Number of units, exercised and converted to common shares">(20,325</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisesInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ziXGTnDPrSG8" style="text-align: right" title="Weighted average grant date fair value, exercised and converted to common shares">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zheEHQ4lB1th" style="border-bottom: Black 1pt solid; text-align: right" title="Number of units, forfeited">(23,825</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zL0E8mVfjgx3" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average grant date fair value, forfeited">0.94</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zbFKSZPyNBV1" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of units outstanding ending">68,240</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfohyie4Db6f" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average grant date fair value outstanding ending">2.09</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableNonvestedNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z0RMGmfpTkdl" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of units exercisable">62,116</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedExercisableWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zRlW9bJLA5il" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average grant date fair value exercisable">2.02</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Compensation expense will be recognized ratably over the total vesting schedule. The Company will periodically adjust the cumulative compensation expense for forfeited awards. The Company recognizes the reversal of any previously recognized compensation expense on forfeited awards in the period the awards are forfeited. As of June 30, 2026, there was $<span id="xdx_90B_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_pn3n3_c20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zqPwDJLweQRc" title="Unrecognized share based compensation expense">13 thousand unrecognized share-based compensation related to unvested RSUs, which the Company expects to recognize through December 2027. Share-based compensation of $262 thousand and $293 thousand has been recorded for the six months ended June 30, 2026 and 2025, respectively. Warrants The following table shows a summary of common stock warrants through June 30, 2026: Schedule of Common Stock Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20260101__20260630_zqfM0lliBzp8" style="width: 16%; text-align: right" title="Number of warrants, outstanding beginning balance">5,142,940</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260630_zoaOYjCRadC1" style="width: 16%; text-align: right" title="Weighted average exercise price, outstanding beginning balance">5.11</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_904_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_z3kBkt56sO5g" title="Weighted average remaining contractual term">1.93</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20260101__20260630_zk9DR1UZTga6" style="text-align: right" title="Number of warrants, granted">11,975,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630_z1omycOS2Bzc" style="text-align: right" title="Weighted average exercise price, granted">0.79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTermGranted_dtY_c20260101__20260630_zMv6IKOiA8nc" title="Weighted average remaining contractual term, granted">5.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_pid_di_c20260101__20260630_zjkc7WO0Kdz5" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants, expired">(349,314</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630_zp9O8iquQuE7" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, expired">4.77</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20260101__20260630_zyzGtKHZE7Tj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of warrants, outstanding ending balance">16,768,697</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260630_zfYJxJYb3E76" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, outstanding ending balance">2.03</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630_zBtMtZXeVLal" title="Weighted average remaining contractual term">3.80</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisableNumber_iE_pid_c20260101__20260630_zMqU7KCiwXIi" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of warrants, exercisable">16,768,697</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20260101__20260630_zgqglGKYCPfj" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">2.03</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_906_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260630_zl3E36NCpQrl" title="Weighted average remaining contractual term, exercisable">3.80</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> As of June 30, 2026 and 2025, vested outstanding warrants had $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iI_pn3n3_c20260630__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zcpC44p4jehh" title="Intrinsic value of vested outstanding warrants">0 thousand and $<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iI_pn3n3_c20250630__us-gaap--AwardTypeAxis__custom--CommonStockWarrantsMember_zDZc1OEwbEzl" title="Intrinsic value of vested outstanding warrants">2 thousand, respectively, intrinsic value as the exercise price is greater than the estimated fair value of the underlying common stock.

57143

485715

571429

785715

780000

1651429

793735

780000

14286

<p id="xdx_897_eus-gaap--DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock_zHrcdqHg6nh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table contains information about the 2019 Plan as of June 30, 2026: Schedule of Information about Incentive Plan <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Awards</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Awards</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Reserved for</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Awards</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Awards</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Available for</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issuance</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Issued</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Exercised</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Grant</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">2019 Plan(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_fKDEp_zOcicEXK3gye" style="width: 10%; text-align: right" title="Awards Reserved For Issuance">1,651,429</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_fKDEp_zF5GcuwFnR8h" style="width: 10%; text-align: right" title="Awards Issued">1,262,135</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForExercised_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_fKDEp_zrvWGel8dZWf" style="width: 10%; text-align: right" title="Awards Exercised">194,240</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_fKDEp_zmEEb07PBOSf" style="width: 10%; text-align: right" title="Awards Available for Grant">389,294</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Awards issued in excess of 2019 Plan(2)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--AwardsGrantedOutsideOfThe2019PlanMember_fKDIp_zK4XKGYO6zVf" style="border-bottom: Black 1pt solid; text-align: right" title="Awards Reserved For Issuance">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_pid_c20260101__20260630__us-gaap--PlanNameAxis__custom--AwardsGrantedOutsideOfThe2019PlanMember_fKDIp_zND4AIZGrr94" style="border-bottom: Black 1pt solid; text-align: right" title="Awards Issued">100,821</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForExercised_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--AwardsGrantedOutsideOfThe2019PlanMember_fKDIp_z4vMTIxwv5c2" style="border-bottom: Black 1pt solid; text-align: right" title="Awards Exercised">92,113</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20260630__us-gaap--PlanNameAxis__custom--AwardsGrantedOutsideOfThe2019PlanMember_fKDIp_zJHb08nEc9R6" style="border-bottom: Black 1pt solid; text-align: right" title="Awards Available for Grant">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Includes incentive stock options and restricted stock units discussed below.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Includes shares of restricted common stock granted outside of the 2019 Plan to our Chief Executive Officer, Adam Levy.</td></tr> </table>

1651429

1262135

194240

389294

100821

92113

160000

0.65

40000

120000

3334

25000

1.31

The following table summarizes the Company’s incentive stock option activity and related information for the six months ended June 30, 2026: Schedule of Incentive Stock Option Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Term in</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zcjz0bFnWC0b" style="width: 16%; text-align: right" title="Number of Options, Outstanding, Balance">907,111</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zypviCMcbr3l" style="width: 16%; text-align: right" title="Weighted Average Exercise Price, Outstanding Balance">2.94</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20250101__20251231__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zg1VT2nKIAg" title="Weighted Average Remaining Contractual Term">7.03</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zl5e9SCaUm2f" style="text-align: right" title="Number of Options, Outstanding, Granted">185,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zQM3qZ8U57jk" style="text-align: right" title="Weighted Average Exercise Price, Granted">0.74</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm2_pid_dtY_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zZ7JIBpct4F7" title="Weighted Average Remaining Contractual Term, Granted">9.32</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zdzLR4d5Xls" style="text-align: right" title="Number of Options, Outstanding, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zpLePbTz6tXb" style="text-align: right" title="Weighted Average Exercise Price, Exercised">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zUI0f1KF3vre" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options, Outstanding, Forfeited">(83,748</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zTdVOxzTCxhe" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price, Forfeited">3.56</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zHEMzQUyTVx5" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Outstanding, Balance">1,008,363</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zALEPxuKe4Y5" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Exercise Price, Outstanding Balance">2.49</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_pid_dtY_c20260101__20260630__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_znE8ymiDro2a" title="Weighted Average Remaining Contractual Term">6.79</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zA3XdO8WTZU" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options, Exercisable">600,863</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_z9EpXRYfHju6" title="Weighted Average Exercise Price, Exercisable">2.33</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__us-gaap--PlanNameAxis__custom--TwoThousandAndNineteenLongTermIncentivePlanMember_zimt0V7wKZr1" title="Weighted Average Remaining Contractual Term, Exercisable">6.52</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

907111

2.94

P7Y10D

185000

0.74

P9Y3M25D

83748

3.56

1008363

2.49

P6Y9M14D

600863

2.33

P6Y6M7D

1000

288000

P18M

P36M

<p id="xdx_895_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zYw34GPp6BD2" style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify">Schedule of Assumptions used in Share-based Compensation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 62%">Volatility</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20260101__20260630__srt--RangeAxis__srt--MinimumMember_z7pv9mNICaB2" title="Volatility">76.07-<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20260101__20260630__srt--RangeAxis__srt--MaximumMember_zspdkDyCKZP9" title="Volatility">80.42</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">%</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right">78.21</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Risk-free interest rate</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20260101__20260630__srt--RangeAxis__srt--MinimumMember_zu0VoUMBwTx5" title="Risk-free interest rate">3.49-<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_c20260101__20260630__srt--RangeAxis__srt--MaximumMember_zWGSrgxMRHih" title="Risk-free interest rate">3.94</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4.38</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif">Dividend yield</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.0</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.0</td> <td style="font: 10pt Times New Roman, Times, Serif">%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif">Expected term</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260630__srt--RangeAxis__srt--MinimumMember_zyTXrH8g6jRd" title="Expected term">3.00-<span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260630__srt--RangeAxis__srt--MaximumMember_zzNYWJ8f2Ual" title="Expected term">5.62 years</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5.00 years</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>

0.7607

0.8042

0.7821

0.0349

0.0394

0.0438

0.000

P3Y

P5Y7M13D

P5Y

20325

40650

0.63

The following table summarizes the Company’s restricted stock awards activity for the six months ended June 30, 2026: Schedule of Restricted Stock Units Granted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Grant Date</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zFwq1CAHEas9" style="width: 16%; text-align: right" title="Number of units outstanding beginning">60,456</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z8JBNErPTav3" title="Weighted average grant date fair value outstanding beginning">2.41</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zHqRhcDg7DAb" style="text-align: right" title="Number of units, granted">51,934</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zV1Xh27lkIbh" style="text-align: right" title="Weighted average grant date fair value, granted">0.92</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Exercised and converted to common shares</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZ4D8sYrXlnc" style="text-align: right" title="Number of units, exercised and converted to common shares">(20,325</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisesInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ziXGTnDPrSG8" style="text-align: right" title="Weighted average grant date fair value, exercised and converted to common shares">1.40</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zheEHQ4lB1th" style="border-bottom: Black 1pt solid; text-align: right" title="Number of units, forfeited">(23,825</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zL0E8mVfjgx3" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average grant date fair value, forfeited">0.94</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zbFKSZPyNBV1" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of units outstanding ending">68,240</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfohyie4Db6f" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average grant date fair value outstanding ending">2.09</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Exercisable at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsExercisableNonvestedNumber_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z0RMGmfpTkdl" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of units exercisable">62,116</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedExercisableWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zRlW9bJLA5il" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average grant date fair value exercisable">2.02</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

60456

2.41

51934

0.92

20325

1.40

23825

0.94

68240

2.09

62116 2.02

13000

262000

293000

The following table shows a summary of common stock warrants through June 30, 2026: Schedule of Common Stock Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Number of</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Term in Years</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%">Outstanding at January 1, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20260101__20260630_zqfM0lliBzp8" style="width: 16%; text-align: right" title="Number of warrants, outstanding beginning balance">5,142,940</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260630_zoaOYjCRadC1" style="width: 16%; text-align: right" title="Weighted average exercise price, outstanding beginning balance">5.11</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"><span id="xdx_904_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20251231_z3kBkt56sO5g" title="Weighted average remaining contractual term">1.93</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20260101__20260630_zk9DR1UZTga6" style="text-align: right" title="Number of warrants, granted">11,975,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630_z1omycOS2Bzc" style="text-align: right" title="Weighted average exercise price, granted">0.79</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTermGranted_dtY_c20260101__20260630_zMv6IKOiA8nc" title="Weighted average remaining contractual term, granted">5.00</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations_iN_pid_di_c20260101__20260630_zjkc7WO0Kdz5" style="border-bottom: Black 1pt solid; text-align: right" title="Number of warrants, expired">(349,314</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260630_zp9O8iquQuE7" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average exercise price, expired">4.77</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20260101__20260630_zyzGtKHZE7Tj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of warrants, outstanding ending balance">16,768,697</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260630_zfYJxJYb3E76" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, outstanding ending balance">2.03</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260630_zBtMtZXeVLal" title="Weighted average remaining contractual term">3.80</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable at June 30, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisableNumber_iE_pid_c20260101__20260630_zMqU7KCiwXIi" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of warrants, exercisable">16,768,697</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20260101__20260630_zgqglGKYCPfj" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average exercise price, exercisable">2.03</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_906_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260630_zl3E36NCpQrl" title="Weighted average remaining contractual term, exercisable">3.80</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5142940

5.11 P1Y11M4D

11975071

0.79 P5Y

349314

4.77

16768697

2.03 P3Y9M18D 16768697 2.03 P3Y9M18D

2000

16. Commitments and Contingencies Partnership Advance On July 14, 2025, the Company expanded its partnership with STADA Arzneimittel AG (“STADA”), a European leader in consumer health. The expansion included a $1 million advance from STADA to the Company in non-dilutive capital to support product launches and marketing efforts under the Master Distribution Agreement between the parties and relates to the planned launch of digestive enzyme formulas and solutions targeting scars and stretch marks. As of June 30, 2026 and December 31, 2025, the Company held $504 thousand and $741 thousand, respectively, of restricted cash related to advances received under partnership arrangements. Correspondingly, $483 thousand and $731 thousand, respectively, were recorded as current liabilities within partnership accrued advances. The advance is subject to contractual restrictions on use and will be applied against eligible project costs as incurred in accordance with the terms of the Master Distribution Agreement, as amended. In connection with the Series A Convertible Note issued on February 10, 2026, the company received a deposit of $1,618 million into a restricted cash account. The cash is released from the account as the holder of the account converts the debt into common shares of the Company. At June 30, 2026, $710 thousand remains in restricted cash. License agreement Under the License Agreement described in Note 1, the Company may be required to make contingent milestone payments of up to $<span id="xdx_903_eus-gaap--PaymentForContingentConsiderationLiabilityFinancingActivities_pn5n6_c20260101__20260630__us-gaap--TypeOfArrangementAxis__custom--LicenseAgreementMember_zkQohAtPipa9" title="Contingent milestone payments">20.0 million to Celularity upon the achievement of specified commercial milestones. No amounts have been recorded due to the uncertainty regarding the achievement of the applicable milestones. Litigation Except as described below, the Company may be subject to legal proceedings and claims that arise in the ordinary course of business. Management is not currently aware of any matters that will or may have a material effect on the financial position, results of operations, or cash flows of the Company. On April 27, 2026, Bezalel Partners, LLC (“Bezalel”) commenced an arbitration proceeding against the Company before JAMS, asserting claims for breach of contract and declaratory relief arising from a Finder’s Fee Agreement, dated July 29, 2024, as amended. Bezalel alleges that it is entitled to a “Transaction Fee” in excess of $1,750 thousand, plus interest, attorneys’ fees and costs. On July 2, 2026, the Company filed its Answer, denying Bezalel’s claims in their entirety and asserting affirmative defenses. The Company intends to vigorously defend against this claim. Given the early stage of this proceeding, the Company is unable to predict its outcome, hearing or resolution timing or estimate a range of reasonably possible loss, if any, at this time.

1000000

504000

741000

483000

731000

1618000000

710000

20000000.0

1750000

17. Concentrations of Risk For the six months ended June 30, 2026, the Company had no revenue from customers that approximated <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zRLy3CrFhMa5" title="Concentration risk, percentage">10% of total revenue. For the six months ended June 30, 2025, the Company had revenue from one customer that approximated <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z4W5r9l4qW9b" title="Concentration risk, percentage">10% of total revenue. The Company had three customers with accounts receivable balances that were <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zYVwiRkfiDXi" title="Concentration risk, percentage">20%, <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zmhw8Vf3jpC9" title="Concentration risk, percentage">21% and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zg1gvLi6YTAk" title="Concentration risk, percentage">26% of total accounts receivable as of June 30, 2026. The Company had one customer with an accounts receivable balances that was <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250630__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zOGi2PQZRCJ" title="Concentration risk, percentage">50% of total accounts receivable as of December 31, 2025. The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, and marketable securities. Cash balances are maintained principally at major U.S. financial institutions and are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to regulatory limits. As of June 30, 2026, there is a $873 balance exceeding such limit. The Company has not experienced any credit losses associated with its cash balances in the past. The Company invests its cash equivalents in U.S. treasury bills with original maturities of six months or less. Marketable securities are comprised of U.S. treasury bills with original maturities greater than three months. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash, cash equivalents, and marketable securities and performs periodic evaluations of the credit standing of such institutions.

0.10

0.20

0.21

0.26

0.50

873

18. Related Party Transactions Accounts payable – related party As of June 30, 2026 and December 31, 2025, the Company had outstanding balances of $<span id="xdx_905_eus-gaap--AccountsPayableCurrent_iI_pn3n3_c20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CGLaboratoriesIncMember_zqmgfC3hPeN" title="Accounts payable - related party">534 thousand and $<span id="xdx_907_eus-gaap--AccountsPayableCurrent_iI_pn3n3_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CGLaboratoriesIncMember_zkPfW1s0gY26" title="Accounts payable - related party">456 thousand, respectively, due to C.G. Laboratories, Inc., a related party. Additionally, as of June 30, 2026 and December 31, 2025, the Company had an outstanding balance of $<span id="xdx_907_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20260630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CEOOfCGLaboratoriesIncMember_z9bfaEm4Mi1f" title="Other payable - related party">24 thousand and $<span id="xdx_90C_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20251231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CEOOfCGLaboratoriesIncMember_zqmHfneuadBi" title="Other payable - related party">17 thousand, respectively, to the CEO of CG Labs. These balances primarily relate to transactions for contract manufacturing, packaging, and other services provided by CG Laboratories, Inc. Brian J. Kieser is the Chief Executive Officer and indirect sole owner of Sequence LifeScience, Inc. (“Sequence”). On April 17, 2026, prior to Mr. Kieser’s appointment to the Company’s Board of Directors, Sequence purchased an unsecured convertible promissory note in the original principal amount of $<span id="xdx_90C_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_pn3n3_c20260417__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNoteMember_z2fQlGEa8apb" title="Original principal amount">5,500 thousand, convertible into up to <span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20260417__20260417__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNoteMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zewYUMc7loJi" title="Debt instrument convertible shares">9,166,667 shares of common stock, and a warrant to purchase up to <span id="xdx_90B_eus-gaap--StockRepurchasedDuringPeriodShares_pid_c20260417__20260417__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNoteMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvFDmhUmNHdk" title="Purchase of shares of common stock up to">4,583,334 shares of common stock, in each case on the same terms as those issued to the other buyers in the private placement described in Note 13. Mr. Kieser was appointed to the Company’s Board of Directors on May 6, 2026. On May 11, 2026, following his appointment to the Board, Mr. Kieser personally purchased an additional unsecured convertible promissory note in the original principal amount of $<span id="xdx_90D_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_pn3n3_c20260511__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNoteMember_zNRsOVGQCyl9" title="Original principal amount">1,000 thousand, convertible into up to <span id="xdx_90B_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20260511__20260511__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNoteMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zKMxc2kAlo24" title="Debt instrument convertible shares">1,666,667 shares of common stock, and a warrant to purchase up to <span id="xdx_90A_eus-gaap--StockRepurchasedDuringPeriodShares_pid_c20260511__20260511__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNoteMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zOzqMM5HIEi3" title="Purchase of shares of common stock up to">833,334 shares of common stock, on the same terms as those issued to the other buyers in that offering. As of June 30, 2026, the aggregate principal amount outstanding under the notes held by Sequence and Mr. Kieser was $<span id="xdx_904_eus-gaap--DebtInstrumentIssuedPrincipal_pn3n3_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--UnsecuredConvertiblePromissoryNoteMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BrianJKieserMember_zIX5QyUPGePe" title="Aggregate principal amount outstanding">6,500 thousand.

534000

456000

24000

17000

5500000

9166667

4583334

1000000

1666667

833334

6500000

19. Subsequent Events In accordance with ASC 855, Subsequent Events, the Company evaluated subsequent events after June 30, 2026, through the date these condensed consolidated financial statements were issued and has determined that, other than already disclosed, no transactions or events have occurred that require recognition or disclosure in the condensed consolidated financial statements.

false false false false false false Includes incentive stock options and restricted stock units discussed below. Includes shares of restricted common stock granted outside of the 2019 Plan to our Chief Executive Officer, Adam Levy.